Brokerage directors 'flee' UAE leaving investors with losses

Directors of a brokerage firm in Dubai that acted as a portfolio and hedge fund manager have allegedly fled the country – leaving behind a number of high net-worth investors with losses.

The customers who lost their capital used the company to invest in the commodities markets.

KomBench DMCC, a brokering member of the Dubai Gold and Commodities Exchange (DGCX), ceased operations after its main directors were said to have left the country. The directors are believed to be in India, and the firm’s operations there are understood to be not doing well.