News reports floating around suggest of an alleged multimillion-dirham scam that has hit Dubai traders. A number of suppliers who dealt with a trading company called New Silver Star Trading (NSS) has alleged that the company vanished with truck-loads of their goods. In addition, while the cheques drawn by NSS to pay the suppliers have bounced, the company’s employees are unreachable and its shops and offices are closed.
According to various estimates, the size of the alleged swindle is being said to be worth AED 15 million to AED 50 million ($4 to $14 million). According to suppliers and traders contacted by a leading UAE-based newspaper, most of the goods ordered by NSS were electronic items such as tablets, mobile phones and TV sets. Some orders also reportedly included textiles, oil, rice, and other foodstuff.
Many traders have reportedly filed complaints against NSS at Al Riffa police station. One of NSS’ shops which is situated close to the Al Riffa police staton has been closed since Sunday mid afternoon. In addition, two NSS shops in Deira and Bur Dubai also remained closed, while an NSS warehouse in Ras Al Khor is empty.
