Fake companies plundering money and women’s gold in Sanaa

@ Sanaa, Newsyemen, Jalal Muhammad: English

2020-07-08 17:06:21

The phenomenon of economic and commercial companies of fake names has spread recently in the capital, Sana'a, to defraud the Yemenis on the pretext of operating their money and buying shares in exchange for huge returns.

Hundreds of women have been victims and many have lost their capital after companies installed traps that they initially earned, and urged them to bring in more investors in return for profits as a commission in the "tree" method (a way to win customers) but as soon as the number of shareholders increases and the capital increases, these companies disappear.  

These companies collect through intermediaries and agents that have millions of dollars, till the right moment comes, they disappear with their crew.

These companies are affiliated with and run by women’s networks and they have no headquarters or phone numbers. 

They are not registered with the competent authorities, and they work in marketing, speculation in prices, and trade in gold, silver, and sewing, according to the sources.

A number of citizens spoke to "Newsyemen" that the spread of the phenomenon of phantom companies, which attracts the interest of young people and young people to achieve profitable gains and rapid wealth, whether through direct interaction or through social networking sites has become a matter of concern in light of the total absence of the Ministry of Trade and Industry in Sanaa, as well as lack of interest  The "Houthi" government, with the monument to which citizens are exposed.

Mohsen Muhammad, a citizen from Sanaa, said that a number of his female relatives sold their gold to contribute to an unknown company.

He added to "Newsyemen", that the price per share reached 115 thousand riyals, which is sent through two exchange agencies, specifically (Al-Najm, Al-Emtiyaz), to a person whom his address, is not known, only a name that we do not know whether it is real or imaginary, and there is not even a Yemeni number to communicate with, as he use an American number for WhatsApp, and through it the victim sends a picture of the money sent, which in turn an empty "contract" is sent that you take out, fill, photograph and re-send it to, and the procedures are completed?

Mohsen Muhammad asked, is it possible that the amount of 115,000 gives a profit return of (300 Saudi riyals and ten thousand Yemeni) every three months, and after six months of the contribution, the company will return the amount of (60 thousand Yemeni riyals) to the shareholder, and his profits will continue as they are every three months?!

And he added, "Where are the supervisory authorities, where is the state, the Ministry of Industry and Interior, and the competent authorities of what is going on? Women sell gold and send all their savings to unknown parties and we don't know what the end is."

For her part, Umm Muhammad said that she was surprised by her mother’s call inviting her to come to visit her quickly and there she found all of her sisters, where my mother started advising us to sell our gold or “our money” for the purpose that she intervened in a commercial project in Malaysia that gives fictional profits, and that she was determined to sell her gold and contribute  In what is called "Al Hani for Yemeni Honey" company which is said to be based in Malaysia.

She added: The truth is that no one knows this company and its owner, and where is its address, even if it has an office in Yemen ?!  People are driven by the high profits that are promised that they will receive.

When asked by "Newsyemen" correspondent about the promises and profits, she replied that they - the brokers of these companies - say that the shareholder will be handed over an amount of 50 thousand Yemeni riyals every three months as dividends from the value of the share amounting to (1000 USD) and at the end of the year the company will return half the value of the share, i.e.

500 USD) per shareholder, with his profits continuing as they are (50,000 Yemeni riyals) every three months, and the more shares he had, the higher his profit rate!

According to Umm Muhammad, the sums are sent to a person in Sanaa, but he is anonymous, not even a mobile number to communicate just send your money, and the company is in Malaysia!

It is noteworthy that the leadership of the Yemeni community in Malaysia, warned Yemeni residents of suspicious companies active in raising funds, claiming investment and buying shares.

A warning statement to the administrative authority of the Yemeni community in Malaysia stated, "There are Malaysian and Yemeni companies in Malaysia that withdraw capital from individuals to invest and prepare shareholders with huge profits and aim to defraud them."

He added: "We have received complaints of fraud cases that occurred to Yemeni citizens, and we ask everyone to take care and be careful not to fall into the traps of these suspicious entities that seek to steal people's money.