Philanthropist and self-proclaimed entrepreneur Aziz Com Mirza has been found guilty of fraud and sentenced to jail in Dubai.
The former Burj Khalifa resident was sentenced to jail for six months by a Dubai Criminal Court on Tuesday. He has also been fined $75,000 for cheating an Indian Businessman. The criminal had recently been sentenced to another six months in jail and fined $140,000 with deportation in a case. He has now 15 days to challenge the verdict of the court.
Com Mirza has been accused of cheating investors worldwide through his get-rich-quick schemes. He is currently being held in a Dubai jail for the past 8 months.
How Were His Fraudulent Activities Exposed?
- Aziz Com Mirza was exposed by a leading Dubai Newspaper ‘Gulf News’ in a private investigation. The media house uncovered how he was tricking hundreds of people to invest in his disguised Ponzi schemes, a worthless cryptocurrency, and shady real estate projects.
According to one of the lawyers who represented some of the victims of the criminal, Com Mirza is unlikely to get away with his jail sentence unless he pays the investors who filed against him. Although he has been sentenced by a criminal court, there are many other civil cases pending against him.
Who is Com Mirza?
- Aziz Com Mirza, a Canadian of Pakistani origin describes himself as an investor, mentor, social media influencer, philanthropist, and serial entrepreneur. He claims to have started his first business when he was just seven years of age which was nothing but a lemonade stand.
He has conducted business in eight countries and was recently residing in the iconic Burj Khalifa of Dubai. As a social media influencer, Com has been able to garner 800,000 followers to his name. His feed is usually filled with him enjoying the hospitality of local restaurants and hotels.
Who Did Aziz Com Mirza Scam?
- According to the private investigation by Gulf News, Com’s victims included businessmen and investors from countries far and wide. His clients were from the United Kingdom, United States, Greece, Canada, and more.
But most of his victims were from the UK-based online community platform ‘Muslim Entrepreneur Network (MEN). Mirza and his brother associated with the platform in 2015, shortly after it was launched.
- To date, scores of investors have lost their money to the shady schemes introduced by Com Mirza. A few to name are International Success Group (ISG) and Habibi Coin, a now worthless cryptocurrency.
Com Mirza’s Leverage Programm – His Biggest Scam
- When Mirza and his brother associated themselves with MEN, they used the platform to float an investment scheme known as the Leverage Program (LP). This scheme guaranteed ‘financial freedom’ to its investors within a year.
The members of the community platform were encouraged to join the scheme by putting in at least £5,000 (approximately $6,211) each. Enticed by the many promises the scheme made, it attracted a lot of investors. About 300 people signed up initially with around 1,200 people following after a few months.
- Among the new sign-ups of the scheme was Umm Rayyan, who paid £25,000 ($31,047). In just two years, from 2017 to 2019, LP was able to raise £4 million ($4,966,100). A lot of this money was wired to a Dubai-based firm owned by the third brother of Com Mirza. Whatever left was used to pay for the personal expenses of all the three Mirza brothers.
With Com now in jail and fined a substantial amount, it is safe to say that justice has finally been served to the people who entrusted Aziz Com Mirza with their money.
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