Scam Stories Series

1 – Scam type 1

“Let’s talk about one of the most dangerous scams entrepreneurs fall for — and it usually starts on LinkedIn, AngelList, or any platform where you’re actively seeking investors.”

“You’re running a business in London, New York — wherever. Someone reaches out claiming they represent a Dubai-based investment firm. Sounds impressive, right?
They’ll say they’re connected to a royal family office or a holding group of an oil giant — even drop names like ADNOC or Mubadala. You get a pitch deck, a slick website, maybe even a contract. It feels legit.”

“Then comes the hook: ‘We want to invest, but due to company policy or tax laws, we can only transfer funds to a company based in Dubai.’
And of course — you have to open the company through them. The cost? $20,000 to $50,000 upfront.”

“You pay… and they vanish. No company. No bank account. No investment.
If someone says they’re representing royalty or oil giants and asks for money upfront — trust me, it’s not an opportunity.
It’s a scam in a suit.“

2 – Scam type 2

“You ever hear about those mysterious ‘multi-million dollar pots’ left behind by politicians, gangsters, or powerful people who’ve vanished?
Sounds wild — but it’s a scam, and it’s surprisingly common in Dubai.”

“Someone reaches out — says there’s an unclaimed fortune stuck outside the SWIFT system.
They’ve got ‘special certificates’ and a way to access it through high-level channels.
Then they pitch you an opportunity — to use this pot to broker oil deals, buy hotels, flip mega-assets… whatever sounds big.”

“But here’s the setup: ‘You just need to open a company in Dubai and get a bank account — show commitment.’
They don’t help you. You do it yourself.
And by the time you’re done, you’re already knee-deep — money spent, time invested. Then comes the final twist — just before the ‘big transfer’?
They ask for a $50,000 consultation fee.”

“You transfer it… and they’re gone.
No deal. No pot. No investor.
This is how they work — they bait you with fantasy, then drain you with logic.
Dubai’s full of real opportunities. Just don’t fall for imaginary ones.”

3 – Scam type 3

“You’ve got a solid business concept — maybe it worked brilliantly in your home country. Now you’re thinking… let’s take it to Dubai.“

“You start talking to business consultants. Most quote you fair market rates — but then one guy stands out. He’s expensive. Way above the rest.
But his pitch? ‘We’re not like the others. My partner’s a very powerful local. Someone with serious wasta. He can help you land multi-million dirham government contracts.’“

“He sells you the dream. You pay the premium. You trust the name.
They open your company — charge you a fortune… and then? Silence. Ghosted. No support. No deals. No access.”

“And the worst part? You don’t even feel like you can fight back — because you were told this guy’s too powerful to mess with.
Lesson? Influence is not for sale. If someone leads with a name-drop and a price tag, you’re not buying a service — you’re buying a story.”

4 – Scam type 4

“You’re in the oil trade — looking for big deals in Dubai. Someone reaches out… says he’s related to a powerful tycoon. Instant credibility, right?”

“He promises you the deal of a lifetime. But there’s a catch — you’ll need to pay upfront to open a ‘special bank account’ in Montenegro.
Cost? €500,000. Then comes AED 2 million for ‘logistics’. You think that’s it? Nope — now there’s ‘dock storage fees’ too.”

“And every step comes with documents, contracts, certifications — all looking legit.
But here’s the game: every paper is fake. Every delay has a story. Every next step costs you more. And you keep going because you’ve already sunk millions.”

“By the time you realize what’s happening, you’ve already been drained.
You try to fight back — but the guy’s untouchable. He’s backed by powerful people who help him dance around the law.
He knows every loophole, every trick in the book.
This isn’t oil trading — it’s slow-drip financial execution.
Stay sharp. Stay skeptical.“

5 – Scam type 5

“This isn’t your typical scam — because no one technically scammed you.
You just… set yourself up. And it happens more often than you think.”

“You wanted to open a company in Dubai, but you were scared.
Scared your home country would find out. Scared of the taxes.
What you didn’t realize is — your personal details in Dubai are protected. They’re not public. No one’s leaking your info.
But because you didn’t know that, you let someone else front the company for you.”

“You didn’t sign any legal protection. No power of attorney. Nothing.
You even made your residency visa under that license — as an employee.
And one day, the guy disappears with your money. Company? Gone.
Bank account? Frozen. And you’re stuck… with no legal control.”

“And when you try to confront him?
He flips the game. Files an absconding case against you — claiming you ran away from work.”

“Now you’ve got a legal mess, immigration issues, frozen funds — and no company.
No one scammed you. You scammed yourself.
Don’t give away your business, your visa, your freedom.
Own it — or don’t do it.“

6 – My Personal Scam Story (Part 1):

You know, I always believed that scams were things that happened to other people—people who didn’t do their due diligence, who were reckless or naive. Not someone like me. I had the credentials, the track record. I’d worked with high-profile clients, earned trust from senior leadership, and climbed the ranks through hard work and instinct.

So when I left my corporate job and stepped out on my own, I felt ready. I really believed that I could take on the business world with that same confidence.

But here’s what I didn’t expect—the market doesn’t care who you were in a company. It doesn’t care about your resume. The moment you lose the power of a corporate brand behind you, you’re just another guy. And in that space, when you’re new, unguarded, and hopeful… that’s when the sharks start to circle.

I met a guy who seemed genuine. Humble. Said he was handling small renovation jobs across the city—restaurants, villas, hotel projects. He told me he needed short-term capital—just 20 to 30k dirhams per project. And he promised fast solid returns. 25, sometimes even 35% per project.

Now I wasn’t careless. I did the rounds. I visited sites, checked the work, collected post-dated cheques, even kept his passport as collateral. I thought I’d covered all angles.

I was sure I had it locked in. Safe. Profitable. Smart.

So I launched a brokerage. Pitched it to my network—people who trusted me. Money started flowing in. And everything looked great.

Until the day I showed up to a site—alone, unannounced.

And what I saw… changed everything.

7 – My Personal Scam Story (Part 2):

He told me he was managing a full nightclub renovation. Had shown me the drawings, sent me the plans, walked me through every detail.

But when I arrived at the site—alone—what I saw just didn’t add up.

He wasn’t managing the project. He wasn’t even close. He was doing a small, insignificant subcontracting task. And the club owner just happened to be on-site. He casually pointed out the truth, and suddenly… it all came crashing down. That’s when the pieces started falling into place. I began visiting more sites, digging deeper. Same story, different location—fabricated scopes, half-jobs, and some sites that were complete fiction.

And then the most brutal realization hit me. I wasn’t his partner. I was his bait. He had used me—my name, my reputation, my relationships—to pull money from people who believed in me. I was the one delivering his pitch. I was the one reassuring investors.

And when I confronted him? He didn’t deny it. He didn’t flinch.

This guy—who always looked so timid, hunched over, soft-spoken—shifted. In a moment, he became cold, arrogant, detached. Like he didn’t just expect me to fall… he wanted it.

I tried to fight back. I deposited the cheques, they all bounced. Filed complaints with the police but there was no support there. He knew the system. He played the rules. Even convinced the authorities to make me return his passport, which was an illegal practise by the way.

And just like that, I was left holding the weight of every investor’s trust… and every dirham they put in.

8 – My Personal Scam Story (Part 3):

This wasn’t just business money. It wasn’t just investors.

These were people from my life. Childhood friends. College classmates. Even my parents.

And all that time, there was one person who kept trying to open my eyes—my wife.

She saw it early. She gently pointed out the holes, the red flags. She questioned what I chose not to question. But I was caught up in the momentum. In the wins. I didn’t want to believe something was wrong. I didn’t want to believe I could be wrong.

When it all fell apart, and I spiralled into depression, she stayed by my side. She didn’t let me hide. She helped me face it. To stand up and own it. And I did.

I met every investor. Looked them in the eye. Told them the truth. No excuses. Just the facts. And I promised—I would pay back every dirham, no matter what. And slowly… painfully… I did.

But what I really paid was in the lessons this experience taught me.

9 – My Personal Scam Story (Part 4):

Here’s what you need to understand, especially if you’re starting out on your own:

– Most scammers will lure you in with showing you their glamorous lifestyles.

– But there those also lurking in the shadows aren’t loud. They’re quiet. They come off as struggling, humble, relatable.

– They offer what sounds like the perfect opportunity—low investment, high return, quick payout.

– They don’t just target your money. They target your relationships. Your circle.

– They use YOUR name to gain trust they could never earn on their own.

– They fabricate just enough reality to blur your gut instinct. In my case it was floor plans, photos, site visits.

– They work fast. Because hesitation is their enemy.

– And most importantly, they will feed on your greed, fear, and naivety.

And me? I should’ve…

– Verified through people outside his circle.

– Used formal contracts with real legal backing and escrow safeguards.

– Held onto investor funds until milestones were proven, not promised.

– Listened to my instincts. Every time they whispered, I muted them.

Yes, I did my checks. But looking back? It wasn’t nearly enough.

This experience nearly broke me. But it also forced me to rebuild—with stronger foundations.

Now, I run every deal with layers of checks. With hard questions. With eyes wide open.

Because trust without evidence? That’s a loaded weapon. And the person holding it might be smiling…..until they pull the trigger.