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Gold.ae DMCC Reviews

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Gold.AE Shuts Down After Fraud Allegations

Gold.AE is facing serious repercussions after fraud allegations led the company to have their license to trade removed by the DMCC. After the scandal broke, Gold.AE was required to send an email out to all of their clients, letting them know the details of the issue.

The email revealed that minority shareholders in GOLD HOLDING are investigating Gold-AE on the suspicion that “questionable” transactions have taken place on the website. The group, acting on their concerns, have begun to conduct internal investigations, during which time the entire management team chose to design suddenly with no notice.

The majority shareholders in the company were unavailable for comment at this time, which allowed the minority shareholders to submit that they did not accept the management team’s recognition. Unfortunately, the people involved went to the DMCC, submitted their resignations and had their visas cancelled.

Following these unsavoury events, during August 2015, Mr. Andre Guathier was officially elevated to the position of “manager” for the company, so that the correct investigations could be carried out, and actions could be taken to preserve and protect the interests of client sand shareholders connected with the company. When Gauthier took over, the new management team learned that their new manager had more access to information concerning the behaviour of previous managing leaders.

Substantial Withdrawals from Company Accounts

Much to the dismay of all those involved, Mr. Guathier discovered that there had been significant withdrawals taken from the account of the company and transferred into the personal accounts of the majority shareholders, and the management team. Management also discovered information that suggested the existence of an account with “Arab Bank” in Switzerland, within the company’s name. Attempts have since been made to contact this bank. However, none of the current minority shareholders or managers are signatories for the account, which means that they cannot gain access. The Swiss banking laws are very strict regarding confidentiality, and no information has been provided.

In an attempt to properly recover and secure money taken out of the accounts of the business, Mr. Gauthier has done everything possible in his power as manager and has also filed numerous cases against the people who received funds from the company. The minority shareholders are also doing the best to support Gauthier in his attempts to overcome this problem and recover the money taken away from the business.

In the meantime, the DMCC has outlined that the actions taken by previous management leaders are within breach of the DMCC rules, and this means that they have been forced to remove the license of the company at this time. Currently, the organisation is working closely with DMCC to look for a solution to the problem, and they have asked their clients to bear with them during this difficult period. The trading platform has been shut down for now, as of the date of the termination.

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