Brothers ‘swindled BD1m from 38 people’

Two brothers swindled 38 people out of one million Bahraini dinars after disguising as forex traders, the High Criminal Court heard.

The duo are said to have created a fake real estate company and cheated the victims who intended to generate money through forex trading, according to Prosecutors.

They reportedly collected the money from them and disappeared, although they promised the victims they would return the money. Police investigated the case after several victims went forward to lodge complaints against the pair. And it was found out that they didn’t have the required permissions to receive money for investment purposes.

According to court files, the duo began their activities in 2015 and continued for two years. A good number of victims are Saudi citizens.