Dubai Police have arrested a gang accused of running an online investment scam that defrauded a retired man of his life savings, according to Al Khaleej Arabic daily.
The victim approached the Anti-Cybercrime Department in tears after discovering that the investment app he trusted had wiped out the money he had saved over four decades of work. Initially lured by the promise of high, quick returns, he invested nearly all his funds after seeing fake “profits” reflected in his online account—only for the app and its operators to disappear days later.
Lieutenant Colonel Ali Al Yamahi, Director of the Anti-Cybercrime Department, confirmed that specialised teams tracked and arrested the suspects, who had transferred the victim’s money to accounts outside the UAE. He said the group used advanced digital tools to deceive victims but were quickly identified through coordinated cyber investigations.
Al Yamahi urged residents to avoid unlicensed investment platforms and report suspicious activities via the eCrime platform, Dubai Police app, or by calling 901. He emphasised that only licensed institutions are authorised to provide investment services in the UAE.
