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Hundreds in capital fall prey to chit fund scam
ABU DHABI - Hundreds of Abu Dhabi residents, including, UAE and Arab nationals, have allegedly been duped by two Indians who are missing with over Dh400,000.
- PUBLISHED: Tue 21 Mar 2006, 10:31 AM UPDATED: Thu 22 Aug 2024, 2:06 PM
Those who deposited money in the two chit funds that Manaf and Khalid - both government employees from Kerala - have been running, were the ones who feel being cheated. A complaint has been submitted at the Indian embassy and the Norka (Non-resident Keralite Affairs department), affiliated to the government of Kerala, it is known.
Usman Sidique. K, a UAE national who lost Dh100,000 said he gave the amount to the two young men to start a new business. “I entrusted the money with them because I have known these people for many years. They also gave me a signed receipt as proof,” added Usman who was working in the same office as Khalid's. According to him, it was only when Khalid and Manaf did not come back after they went on a short holiday this January to Kerala that he suspected that he had been taken for a ride.
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Other aggrieved parties including Sajid and Khalid V.T. told this reporter that hundreds of their friends and colleagues had joined the chit funds, depositing Dh1,000 each. There was also another scheme where more than 100 people put Dh100 each. “I had no clue about their intentions when both said they were leaving to Kerala for a few days. I even arranged for their tickets,” said an irate Khalid V.T who claimed he lost Dh6,000 and more.
Sajid, another victim noted that when they checked at Khalid's native district of Malappuram and Manaf's in Thrissur, it became clear that the accused had disappeared along with their families. “When my relatives and friends went to their houses, it remained locked,” Sajid who lost Dh52,000 along with his brother said.
On reasons for not filing a complaint with the police, Usman, the UAE national, pointed out that he was not hopeful of getting his money back as the culprits had already left the country. A source at the Indian Embassy noted that all complaints involving Keralite expatriates are being forwarded to Norka.
“But complaints of such nature are difficult to look into because there are no documents supporting the victims' claims. Moreover, chit funds are illegal in the UAE,” added the source.