• HSBC

Boom fund accused of fraud

  • United Arab Emirates: Thursday, August 28 - 2008 at 13:41

Dubai prosecutors say an alleged bogus investment portfolio run by an Emirati businessman owes investors $230.6m. After receiving numerous complaints earlier this year from investors in the investment portfolio, which is run by Abid al Boom, prosecutors ordered Boom's arrest and that of seven others, including his brother, Khalid, reported The National.

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