STANDARD LIFE DUBAI UNLICENSED BOILER ROOM ACTIVITY DUBAI AND SCAMS

I recently left a brokerage where we were told to only sell Standard Life and RL360 to our clients as we didnt hold a local license to do anything else and these companies paid us more commission than legit ones. I have now found out that this is a criminal offence only made possible by the companies flouting local law and incentivsing the boiler room in which I worked to rip off their clients in a scam. These types of companies must be stopped as they say one thing about helping clients and then help rob them............ What are the DFSA doing to stop them? I am advising all clients of Standard Life and RL360 to lodge a complaint at the police station against the managers of these companies and report them to the DFSA. These scam merchants must be stopped from helping boiler rooms steal money from clients! GREEDY GREEDY GREEDY companies with NO ETHICS
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2 comments
#831740

A policy sold by non-admitted insureres is void: -

http://www.clydeco.com/insight/updates/location-location-location...-the-insurance-regulatory-landscape-in-the-uae

If you have lost money with RL360 or Standard Life - report them to the police and DFSA/Insurance Authority. They have to give all original premiums back, costs and damages. Chris Devito is listed as the manager of SL - he gets a travel ban or jail time untill they cough up.

Big UK companies know this and sort things out real quick when your lawyers show them how many laws they have broken by selling inside the UAE without a license.

#831737

Policies from non-admitted insurance companies are void. If you have a loss you can claim this back plus damages. See this article: -

http://www.clydeco.com/insight/updates/location-location-location...-the-insurance-regulatory-landscape-in-the-uae

If your investment has lost money simply complain to the police (and in the case of Standard Life the DFSA )and the managers (Chris Devito at SL) will get hauled into jail until they refund your premium, legal costs and damages.

It is actually quite good as if you make money stay schtum and if you loose money claim the policy is void and ask for your money back - a good insurance policy!

These companies know this and will cough up quick rather than go to jail.

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