Strange twist to a very strange story — Malik Bilal Awan abducted in Islamabad, as his big brother sits in jail for fraud. When we reported back in November that Malik Noureed Awan, the CEO of Dubai based retail forex broker MMA Forex, was sentenced to two years in jail after a fraud conviction, we thought that…
Read moreHowever despite fraud conviction for its founder MMA Forex appears to remain open, clients still looking for their money. In what has to be one of the most bizarre stories we've covered (and there are many in the forex world), comes what seems to be the conclusion of the episode of Dubai based MMA Forex,…
Read moreQuestions also surround whether MMA Group's claimed airline MMA Airline actually exists. This is probably either one of the best con jobs or worst smear jobs of all time. Or perhaps both. This is what we (think we) know about the supposed defrauding of clients of Dubai Forex broker MMA Forex, issues at its parent…
Read moreMMA CEO Malik Noureed Awan brazenly claims 'I am really enjoying all this free publicity'. Some follow-up notes to our exclusive coverage of the shutdown of Dubai retail forex broker MMA Forex.... 1) Contact. Calls to all of the 'Contact Us' telephone numbers at MMA Forex (as listed on their website) yielded some strange results.…
Read moreMMA Forex's offices shut by Dubai Police based on fraud allegations. LeapRate has learned that Dubai based Forex broker MMA Forex, run by Pakistani businessman Malik Noureed Awan, has been shut down by Dubai police after several hundred MMA clients were unable to withdraw money from their accounts. MMA claims to be doing about $20 billion of…
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