Dubai: When British expatriate Amber Waheed misplaced her life financial savings to a classy monetary advisory fraud in Dubai in 2015, she didn’t sink into despair like among the different victims. As a substitute, the one-woman military took on the fraudsters and gained a landmark case in Dubai courts. After which she did one thing extra. She encapsulated her experiences in a motivational debut guide.
‘The Nice Fraud Fightback’, which releases on Amazon subsequent week, seems to be into the present state of the worldwide monetary advisory business. However greater than that, it reinforces religion within the UAE judiciary and presents hope to 1000’s of individuals. “I wrote this guide as a result of I wished to make individuals conscious of the authorized course of in Dubai. The Dubai Courtroom course of is a judicial system equal to some other world wide, the place they observe the proof and the regulation,” mentioned the life and enterprise strategist, whose purchasers embody Fortune 500 firms and worldwide regulation corporations.
Waheed misplaced £60,000 (Dh301,897) to Neil Grant, an unlicensed British monetary adviser who ran Prosperity Offshore Funding Consultants and Prosperity Administration Consultancy from a Dubai lodge. A monetary skilled appointed by Dubai Courtroom in 2017 discovered that he had misled Waheed into investing into high-risk startups, together with waste disposal firms. The next yr, Grant was convicted by a Dubai Felony Courtroom and ordered to pay damages within the Dubai civil courtroom.
In accordance with courtroom paperwork, Grant had greater than 400 purchasers on his books within the UAE when he first began his operation again in 2004. The common loss to every investor got here to £100,000.
Waheed, whose courtroom trials lasted greater than two years, mentioned her guide particulars her complete expertise; pursuing the authorized course of and the courtroom techniques in Dubai in addition to the authorized course of and courtroom techniques in Jersey.
“Monetary advisory fraud is a raging epidemic. It additionally seems extraordinarily advanced, however whenever you minimize by the smoke and mirrors, you realise it merely includes a variety of methods to control vital monetary choices by susceptible purchasers for private monetary good points. “Luckily, I had saved all of the paperwork and notes of essential moments, conferences, encounters and emails. It didn’t take a very long time to transform this wealth of fabric right into a guide.”
Waheed mentioned her guide targets the common reader who has little or no understanding of the monetary advisory business, however needs to study extra about it earlier than investing and the way they’ll defend themselves from scams. “I hope it saves individuals a number of heartaches,” she mentioned.
Along with a chapter by worldwide bestselling writer and monetary educator Robert Rolih, the guide additionally incorporates authorized templates providing a roadmap to assist different individuals navigate related advanced authorized instances.