Gold and oil scam cons victims out of BD97,000
TDT | Manama
Email: mail@newsofbahrain.com
A retired lawyer and several workers were tricked into handing over more than BD97,000 after falling for a fake investment scheme involving gold and oil, run by a gang operating from behind mobile phones and encrypted apps.
The scam unravelled when one of the accused was lured into a trap and arrested while turning up to collect BD15,000.
Police say the incident was part of a wider fraud that targeted five people, some of whom transferred funds online, others who gave the money in person.
Bahrain’s top court upheld a seven-year prison sentence for an Arab man involved in the operation.
He was also fined BD10,000 and will be deported after serving his time.
The judges were told he had worked with others to extract the funds through deception and digital sleight of hand.
One victim, a pharmacist, said she received a phone call last May offering what appeared to be a solid investment opportunity.
She willingly transferred BD20,000.
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