The case of the non-existent wallet

I am not really sure what the swindle is. Some man, or men, ripped off some other people, and now it's all in the hands of the police and we seem to write about it several times each week. It's the name I love: "the case of the non-existent wallet". What does that even mean?

My editor tells me Emiratis love giving nicknames to things. Well, I am pretty sure I now love it too.

Comments

Anonymous said…
Well, 'wallet' refers to an investment, literally, something you put your money in!

There was no investment. It was a simple Ponzi scheme. Earlier investors were paid off with cash from newer investors. You can see that it would be impossible to sustain such a business. But the Ponzi scam artists follow a maturity curve and when the profit stops growing exponentially, they dump their followers and relocate to start scams anew.
-- Rumey Jiffrey

Popular posts from this blog

The unofficial guide to buying a used car in Abu Dhabi

Why I love boric acid OR Cockroaches: 0 Me: 1

Who says there is no internet dating in the UAE?