🚨💰 Dubai Police Bust Multi-Million Scam Promising ‘Quick Profits’ 💰🚨

Dubai Police have arrested four suspects accused of running fake online trading schemes that promised high and fast returns.

📞 The gang allegedly targeted victims through phone calls and social media ads, pretending to represent reputable trading brands. Once victims invested, their funds were swiftly transferred to accounts outside the UAE.

🔍 Fake platforms linked to the scam include:

Sigma-One Capital

DuttFx

EVM Prime

UTrade

EVA Markets

Core Financial Markets

💡 Khaleej Times revealed that Sigma-One Capital had already vanished with millions of dirhams from UAE investors. Investigations showed no evidence it operated from its claimed Dubai address, and it was not authorised by UAE regulators like DFSA or SCA - leaving investors with zero protection.

📢 Lesson: If it sounds too good to be true, it probably is. Always verify a platform’s licensing and regulatory status before investing.

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