Indians among investors duped of millions as Dubai firm vanishes overnight

Several investors, including Indians, lost millions of dirhams after a Dubai-based brokerage firm, in which they were lured to invest, reportedly vanished overnight, according to a report in The Khaleej Times. Gulf First Commercial Brokers operated out of two office spaces in the Capital Golden Tower in Dubai's Business Bay. From these offices, around 40 employees made relentless cold calls to investors, pitching forex offers.

The company was based in a prominent business hub until last month, and the fraudsters even spoke to the investors in their native language to win their confidence.

Among those affected are Keralite expatriates Mohammad and Fayaz Poyyl, who together invested $75,000 (approximately Rs 62.6 lakh).