Indian businessman becomes a victim of serial fraudsters within a week as all four of his businesses were targeted in Dubai, according to local media. Mirza Iliaz Baig, who runs Iveond Consultancy which offers consultation services, IRA Travel and Tourism works in the tourism and travel sector, and a general trading company with divisions in foodstuff and building materials said that his business has been defrauded by five companies recently.
As per him, out of all the subgroups including laptops, LED TVs, hard disks, or mobiles, Iveond Consultancy had a higher loss of Dh958,970 in total. IRA Travel and Tourism Company lost Dh648,000 through fraud and IRA General Trading and Foodstuff Company, retailers of onions and sanitary ware, lost Dh200, 315.
These fraudulent companies are Digital Genius Technologies, Daemo International, Noor Al Sidra Trading, Fair Words Goods Trading, and Wahat Al Rayan Trading – all gone but with many more complainants left behind.
Such firms employed a common modus operandi – embezzling funds through purchasing goods and services using post-dated cheques that turned into bad cheques. undefined He had four different businesses in various fields and all fell prey to the scam.
Baig said, ‘I don’t know how I can come out of these losses.’ That started when Digital Genius Technologies requested IRA Travel and Tourism to book flight tickets and hotels for Dh 319,000. Recalled Baig: ‘I thought business was good when Digital Genius paid us by post-dated cheques – for instance, the 15th, 30th, or 31st of a month – and offered a credit period of 30 to 45 days for each cheque. For an additional security, they paid a cheque of Dh200,000.’
Mirza Iliaz Baig and his staff produced photocopied multiple cheques and invoices against their companies. The travel firm facilitated 139 orders covering such things as flights to places like London, Toronto, Los Angeles, Istanbul, Kolkata, and Kuala Lumpur besides selling other products, five-star hotel accommodations and such activities as desert safaris, Atlantis Aquaventure, and Burj Khalifa, among others.
Out of all the post-dated cheques that were cashed , only one cheque for the amount of Dh92,979 was cleared while all the others were returned.
Of the five above fraudulent firms, four of them had targeted more than one of Baig’s companies. ‘I rather think they were in cahoots since they arrived and then left within a short span of time evoking impressions that the two were involved,’ said Baig.
The biggest creditor is Mister Digital Genie, which is located in Al Nahda in Dubai. Apart from room booking of Dh265,000 and flights, they had spent money on other accessories including purchasing Samsung screens worth Dh6,400, hundred tablets worth Dh6,800, AirPods worth Dh1,200, 200 pieces of digital camera worth Dh12,000, twenty projectors worth Dh38,000, hundred routers worth Dh87,200, and thirty MacBooks worth Dh164,800. This shows that all the goods were delivered to the warehouse of the company in question.
In another incident, Max Clove Technologies ceased its operations abruptly in Al Mina Street offices and the warehouse in Al Quoz on May 13 with some products whose value was estimated to be more than Dh40 million missing.
SM, a trading company owner in Dubai, claimed, “I lost Dh 45000 in building materials that I supplied to 100 individuals in our WhatsApp group , we are handling greater losses totaling up to Dh 1 million each.”
This was narrated to the media where many others like Mohammad Risath from Sri Lanka who transacted with Max Clove said, “I’ve been left with dud cheques of about Dh40,000 for laptops and other computer-related equipment.”
Among many companies that are reportedly affected by Max Clove Technologies to incur losses include Asbis((Dh477,483), Bright Apollo Technology (Dh200,000), Wbio computer (Dh92,000), Advance Reader Technology (Dh75,000) and NAS Electronics (Dh40,355).
