Be really careful when you invest !!
A Dubai brokerage firm SHUT shop overnight taking millions in Indian investor money with it & the reason this keeps happening will piss you off ๐จ
Let me explain the course of events.
Gulf First Commercial Brokers looked like a legit operation. Offices in Business Bay, 40 employees, forex investment schemes, big promises.
The catch?
They were funneling money to Sigma-One Capital, an unregulated platform with no license, no verified address, and no legal oversight.
Hereโs what they didnโt tell investors:
โ Sigma-One wasnโt licensed by the Dubai Financial Services Authority.
โ It wasnโt registered with the Securities and Commodities Authority.
โ Its so-called โofficeโ in Bur Dubai doesnโt even exist.
This was a classic Ponzi-style exit disguised as a legitimate opportunity.
And I donโt know how many times we need to scream this out loud:
ย ๐ Check the papers.
ย ๐ Ask for licenses.
ย ๐ Stop trusting cold calls more than compliance.
Just last month, we watched two major Indian companies go through something eerily similar.
And yet, here we are again.
Why is due diligence still optional when risk is permanent?
Everyone loves to bash regulation, until the firm disappears, and your crores vanish with it.
The next time you look for a great investment, start with this one: due diligence :)
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That is sickening which makes it hard for Good Companies to raise fund. This happens even in The USA. With all the rules. It is time to bring harsh penalties.