The West Palatinate police headquarters and the Kaiserslautern public prosecutor's office are requesting support in finding victims and possible witnesses in the case of a large-scale investment fraud amounting to millions. Since this is an internationally broad, organized group of perpetrators, it is very likely that there are victims and/or witnesses in Austria too.

To the case

In 2020 and 2021, an organized group of perpetrators posed as representatives of supposed Arab investors to companies that needed financing capital and were looking for backers. In order to suggest legitimacy to the entrepreneurs - the later victims - these pseudo-investors from the United Arab Emirates appeared under false company names that deliberately resembled real companies.

With the promise of enormous future investment sums, the victims were manipulated into making various advance payments to the supposed investors or their representatives. The perpetrator stated that these payments were necessary as security or to boost future investments (travel expenses, fees, reports, insurance, investments).

The fake company names used by these pseudo-investors in this case were:

  • (The) Emirates Net (emirates.net@outlook.com)
  • Gulf Holding Foundation Inc. (Gulf Foundation for short) (gulffoundation@outlook.com)
  • Emirates Holding – To Emirates Group Corporation (short: Emirates Holding Group) (info@emiratesholding.org)
  • Pacific Ventures LLC (pacificventures@outlook.com or PV.LLC@outlook.com)
  • EIN International (short: EIN)

The victims' payments were made to accounts of "EIN International" (EIN), at Emirates NBD Bank (IBAN: AE930260001012218835501) or "Alsediq Commercial Broker" (other spellings: Alsedeq/Alsedq), also at Emirates NBD Bank (IBAN : AE530260001012279727001).

The promised financing ultimately did not materialize. So far, the German investigative agency has been able to locate victims in the USA, Africa, Asia, Australia and also Europe. The currently known amount of damage is around ten million euros, although the number of unreported cases is much higher, according to investigators.

Due to the mode used, it is very likely that there are (further) victims of this investment fraud worldwide - including in Austria. At the request of the Kaiserslautern public prosecutor's office, the Federal Criminal Police Office in Vienna is publishing the search for victims and witnesses throughout Austria.

Clues sought

  • Who had contact with the alleged investors?
  • How was the contact made?
  • Who made payments to the alleged investors?

Contact

The Kaiserslautern police will receive information on 0049 631 369 2620 and by email at investmentbetrug@polizei.rlp.de.

Detect and prevent fraud

The forms of fraud such as investment fraud, rip deals and investment fraud are now among the most common fraud crimes worldwide. In these crimes, entrepreneurs and private individuals are lured with promises of high profits or investments. The aim of the fraudsters is to get the victims to transfer large sums of money in advance under the guise of various fees and the like. The perpetrators regularly find their victims on the Internet, which is why extreme caution is advised on the fashionable trading and investment platforms, but on the Internet in general.

The following general tips can be helpful here

  • If quick money or high chances of winning are offered, there is a very high probability that they are scammers.
  • Research the Internet to see whether there are warnings or complaints about supposedly lucrative platforms or companies, for example Watchlist Internet, search engine results pages!
  • In the case of trading or trading platforms, make sure that there is a corresponding license from the Financial Market Authority (FMA) and check whether there has already been a warning from the FMA regarding this platform or the operating companies! Information and inquiry options can be found at News Archive – FMA Austria.
  • Take a close look at the trading platform: Is there an imprint? Can the person responsible be reached by telephone? Do they take the time to explain the business model to you? If these points do not apply, stay away from the business!
  • Read the Terms and Conditions. Are these coherent and serious?
  • If you are contacted immediately after your first deposit and are strongly asked for more money, do not pay any further amounts!
  • Credit card payments can sometimes be canceled for up to three weeks and the payments can be reclaimed.
  • If you have already suffered damage, be sure to report it to the nearest police station. Your cooperation is of central importance in identifying possible perpetrators and reclaiming payments made. Report the matter to the FMA too!

You can find more information about investment fraud HERE

Source: Federal Criminal Police Office

You might also be interested in: Serious fraud in alleged crypto trading


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