Almost everyone has been the target of a scam at some stage in his or her lives, and many people have repeated, ongoing exposure to scam attempts. The aim of SCAMSTERS INC. is to provide you with information you need to Protect Yourself from scams, so you can recognise a set-up and avoid the hook and the inevitable sting of a scam. Its your Daily dose of Scams in your neighbourhood.its an Archive for all thats related to SCAMS,FRAUDs,Etc....

this Site

SCAMSTERS INC provides an Antiscam - Useful External links page to similar and related to Bangalore and rest of India. Finally, SCAMSTERS INC. provides advice for those who have fallen for the bait and been hooked at 'I've been scammed. What should I do?

Investment scam shocks muslims in Chicago

Both Indian and Pakistani community of Chicago and its suburbs are in a state of unrest and shock due to an unbelievable investment scam

worth millions-of- dollars targeting the community and sudden disappearance of Sunrise Equities's CEO Salman Ibrahim.

State regulators are considering criminal charges against a developer named Ibrahim, who fraudulently persuaded hundreds of muslims to invest in real estate deals. Some gave Ibrahim their life savings or mortgaged their homes before he disappeared in August. Investors say they may loose more than USD 50 million.

Salman Ibrahim, CEO and President of the Chicago-based Shariah compliant financial services firm, which provided the market with competent and innovative Shariah Compliant investment products and services, duped the community.

Ibrahim founded the company in 2001 as a religious financial service in accordance with muslim law of Shariah, meaning interest free investment. He would take money from people and pay them an amount in profits every month.

People started investing larger amount of money in his business. Ibrahim along with his partners continued taking money from the community, which they invested in community business for nearly eight years and distributed profits as well.

Being well known in the muslim community in Chicago, Ibrahim was appointed as one of three Vice Presidents of the Shariah Board of America. He also became well-known among the Muslim clergy in Chicago.

Lawyers for the investors are trying to force Ibrahim's company Sunrise Equities into bankruptcy. The state has suspended Sunrise's rights to do business.

Source: ET


Post a Comment