Investment scam
Date: April 19, 2007Source: archive.gulfnews.com
The warning came after DFSA closed down www.smiequity.com, a Dubai-hosted website used to front an unlicensed investment company, SMI Equity, using the UAE as a base address on the website.
The DFSA was alerted to the unlicensed operation by an investor in the Czech Republic who had deposited $45,000 (Dh165,510) into the bank account of SMI Equity and received no response.
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