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The Abu Dhabi court ruled that the two women must repay the full sum to the scam victim, according to Emirates 24|7. The decision underscores the judiciary’s role in addressing fraudulent schemes involving precious metals. The women had received the money under the guise of a legitimate gold investment opportunity that turned out to be a scam.
Emirates 24|7 reported that the court rejected any defense offered by the women and held them jointly liable for the repayment. The victim had transferred the funds after being promised attractive returns on gold. The ruling includes the requirement for the women to cover any associated legal fees as well.
The case adds to a series of similar disputes making their way through Abu Dhabi’s courts in recent months. A 2025 report by the UAE Financial Intelligence Unit found the precious metals and stones sector to carry medium to high risk of money laundering. The UAEFIU assessment, covering data through June 2025, documented over 1.4 million dealer reports and numerous suspicious transaction filings.
The UAEFIU report noted that foreign trade in the sector nearly doubled to over AED 959 billion in 2024 from AED 497 billion in 2021. It also recorded an 81% rise in the number of registered dealers during that period. Such growth has been accompanied by increased instances of fraud and smuggling, the unit said.
Legal analysts have pointed to common red flags in gold investment scams, according to a guide published by the Awadh Al Meheiri law firm. The firm noted that promises of guaranteed high returns unrelated to market fluctuations often signal fraud. Absence of proper licensing for the specific investment activity is another key warning sign, the firm stated.
The Awadh Al Meheiri law firm recommended in its analysis that investors confirm the scope of a company’s trade licence before engaging in gold trading activities. The Capital Markets Authority regulates such activities following its succession to the former Securities and Commodities Authority. Victims of such scams are encouraged to report them to both police and financial authorities for investigation and potential recovery.
