Dubai Police arrest gang over online investment fraud

Distracted and overwhelmed by his emotions following the loss of his life's work, SM stood before a Dubai Police Cyber Crimes Department officer, tears streaming down his cheeks as he recounted the shock he had never imagined, when his dream of investing his end-of-service gratuity turned into a financial nightmare that wiped out all his savings.

- Somaiya Saad, Staff Reporter

After working continuously for a certain organisation for four decades, SM received his gratuity and financial benefits and started thinking about a safe investment that would provide him and his family with a stable income after retirement.

While browsing social media, he came across an advertisement for an investment app promising high returns in a short period.

The ad seemed convincing and attractive, so he decided to try it out with a small initial investment.

Within days, he saw imaginary profits multiplying in his virtual account on the app.