Top 10 Middle East stories of 2017
By Tom Carnegie, 27 Dec 17
A new family tax in Saudi Arabia, Abu Dhabi’s biggest ever scam and the UAE pushing ahead with a major life industry overhaul were some of the most read stories by our Middle East audience in 2017. To see the others, click through the slides.
News broke in June that almost two thousand people were caught up in a AED800m (£172m, $218m, €195m) Ponzi-style investment scheme that turned out to be the biggest scam in Abu Dhabi history.
The investment scam was disguised as a car trading business that encouraged customers to invest money to buy cars then resell them for a substantial profit, according to local media reports.
Returns of between 70-100% were promised.
Reports further suggested that between AED1.3bn and AED2.3bn was defrauded from 3,700 people.
To read the full story click here.
