A businessman from India based in Dubai has been left in a state of shock and despair after all four of his enterprises reportedly became victims of serial scammers within a short span, leading to losses exceeding Dh1.8 million. Mirza Iliaz Baig, who operates Iveond Consultancy, IRA Travel and Tourism, and a general trading company with divisions in foodstuff and building materials, alleges that his businesses were simultaneously targeted by five deceitful entities. Iveond Consultancy, which deals in laptops, LED TVs, and hard disks, suffered the heaviest loss at Dh958,970. IRA Travel and Tourism was defrauded of Dh648,000, and IRA General Trading and Foodstuff, which supplied onions and sanitary ware, lost Dh200,315. The fraudulent companies – Digital Genius Technologies, Daemo International, Noor Al Sidra Trading, Fair Words Goods Trading, and Wahat Al Rayan Trading – have disappeared, leaving behind numerous other complainants. These firms employed a common tactic – purchasing goods and services with post-dated cheques that later bounced.

Baig expressed his devastation, stating, 'It’s surreal. I have four businesses in different sectors, yet they were all scammed. I don’t know how I can recover from these losses.' His troubles began when Digital Genius Technologies approached IRA Travel and Tourism to book flight tickets and hotels worth Dh319,000. Baig initially believed business was thriving when Digital Genius provided post-dated cheques for the 15th, and 30th or 31st, with a credit period of 30 to 45 days for each cheque, along with a security cheque of Dh200,000. During this time, four other companies also utilized services from IRA Travel and Tourism. Documents reveal that the travel firm processed 139 orders, including bookings for flights to destinations like London, Toronto, Los Angeles, Istanbul, Kolkata, and Kuala Lumpur, along with five-star hotel stays and activities such as desert safaris, Atlantis Aquaventure, and Burj Khalifa visits. Of all the post-dated cheques received, only one, worth Dh92,979, was honored; the rest bounced.

Four of the five fraudulent firms targeted multiple Baig’s companies, leading him to suspect a connection among them. His largest debtor is Digital Genius, which was located in Al Nahda, Dubai, and owes Dh265,000 for hotel and flight bookings, in addition to purchasing electronic goods worth around Dh772,800. The goods were delivered to the company's warehouse. Another businessman who supplied cashew nuts to Noor Al Sidra Trading reported losses of Dh110,000, noting that many others are in a similar predicament. The goods bought with these bounced cheques are often sold for cash at reduced prices. Baig has filed a police complaint and is now considering the future of his businesses, stating, 'It's a big financial blow. I may have to close one of my businesses.'

In another incident, Max Clove Technologies abruptly closed its offices in Al Mina Street and warehouse in Al Quoz on May 13, disappearing with goods estimated to be valued at over Dh40 million. A trading company owner in Dubai, SM, mentioned supplying building materials worth Dh45,000, with nearly 100 individuals in their WhatsApp group facing much larger losses, some as high as Dh1 million each. Mohammad Risath from Sri Lanka, who dealt with Max Clove, shared his experience of receiving dud cheques worth around Dh40,000 for laptops and other computer-related equipment. Several other companies, including Asbis, Acube Infotech, Bright Apollo Technology, Wbio Computer, Advance Reader Technology, and NAS Electronics, are also facing losses after being reportedly hit by Max Clove Technologies.