Dubai: Since XPRESS broke the story last week, scores of residents have contacted us with heart-wrenching stories detailing how their hard-earned money, in many cases entire life savings, have been wiped out in what could be the UAE’s biggest and most sophisticated ponzi-like scam.
Some wept bitterly on the phone, others wrote long emails to express their anguish. And then there were those who took to online forums in a mass outpouring of anger and grief. We hope this case serves as a grim reminder of the uncomfortable truth: If a money-making scheme looks too good to be true, it most certainly is.
We are doomed Six of us invested between Dh2,000-Dh5,000 in Sunfeast. And now all of us are doomed. If it were one of us the other could have bailed us out. Who do we turn for help?
Threat by money-lender
Blinded by greed, I invested Dh50,000 in Sunfeast after borrowing from a private money lender at a high interest rate. The money lender has called me thrice in the past two days. I detected a tone of threat in his voice. I don’t know what to do. My son was asking why I was so tense. I don’t know what to tell him.
I am bankrupt
I am the only breadwinner in my family. I worked in Dubai for about 10 years and managed to save around Dh60,000. When I lost my job a month ago I got Dh25,000 as my end-of-service benefit. With that my savings added up to Dh85,000. That is when I came across Sunfeast through a friend. He had already made more than what he had invested and showed me the proof. I was struggling to make ends meet, paying school fees, house rent, etc. I thought my savings would melt down before I could land another job, so I took the decision to invest in Sunfeast. I swiped my credit card (Dh15,000) at their office and rounded the figure to Dh100,000 which I deposited with the company. April 30 was my first payment date. My rent cheque, daughter’s school fees, credit card bill, grocery, even internet connection depended on it.
Now I am bankrupt. I have sought time from my landlord and daughter’s school. I have not bought groceries and my credit card payment is due.
We took a loan against our jewellery
My husband took a loan against jewellery and swiped his credit card at the Sunfeast office. My in-laws do not know about the loan. Think of our family situation, if they find out about it. If my husband does not pay the credit card dues he will be in jail as we have to repay the amount in the next two months. My husband had to work for two years to earn his invested money. We will wait but the bank and the money lenders will not wait. One of my husband’s friends has invested around Dh200,000 by borrowing from his friend in our home country. What will he do? He cannot go to his home country.
I am on the verge of divorce
I am on the verge of divorce due to this issue. Could somebody please tell me clearly what is happening? I am desperate as my hard-earned money is deposited there. Now I don’t have anything.
I took a loan to invest in Sunfeast
I invested Dh17,000. I am totally jobless and got a loan from someone back home. I don’t know what’s going to happen.
It was my life’s savings
I have invested Dh50,000 in Sunfeast. It’s my life’s savings. All my dreams are shattered.
What do I tell my husband?
I’ve invested Dh4,000 without my husband’s knowledge. I dread to think what I will tell him if he asks about the money. I was hoping to double the money, but it looks like I have lost whatever I had.
Surprise turns to shock
I am devastated. I have invested the money I had kept aside for my daughter’s wedding. I was hoping to get good returns on my investment and surprise my wife with my wisdom. But instead I have shocked them with my foolishness.
My life’s savings of Dh16,000 are stuck
I am a security guard and earn only Dh2,000 a month. I have put my life savings of Dh16,000 into Sunfeast. Now I don’t know what to do. I came to the Karama meeting all the way from Abu Dhabi after a 12-hour shift hoping to get my money back, but there was no one to listen to me. I am devastated.
I am feeling suicidal
I earn Dh6,000 a month. I made the first investment with the company only last month with Dh50,000 because my friend had made Dh150,000. I was sure to make double profit. But now I feel suicidal. I have been drinking all day and just want to forget what has happened.
Mounting expenses
As an office boy I earn Dh2,500 a month, but I was making a cool Dh5,000 every month from the company for the last four months, but it all stopped about a fortnight ago. I had employed three people back home, spending about Dh300 on each per month and now I have got that and several other mounting expenses to foot.
I wish I hadn’t done it
I invested Dh24,000. I have a wife and kid living with me in Dubai and responsibilities back home in Ghana. I don’t know how I can recover my money. I wish I hadn’t done it in the first place. I hope others learn from our mistakes and don’t ever fall for such traps.
Note: Names of investors have been kept secret to protect their identity
