Hi P.Eye,Hello fellas,
a friend asked me to take a look in this dirty affair about GTL, and here are a few things you should need to know.
Mahmood Riaz- who is this mysterious Pakistan guy so beloved in the Emirates? He left Pakistan after several problems with justice (and leaving his brother and “partner” Masood Riaz in jail), between them he was linked to a company named “Dollar East” where he was one of the owners. Due to his several problems with justice in Pakistan, he landed in Dubai, where he was under the protection of his sponsor Ahmed al Darwish, partnership with him for the first of many “GTL's” Gtl Machinery.
Under the protection of this guy he started to make his business in Dubai, founding companies in Switzerland, Belize, BVI, Australia, United Kingdom and running all of them from his headquarters in the Emirates.
The number of scams he is carrying on from there is huge, in Switzerland using a HSBC account improperly with the protection of a guy Stephen Howarth who covered for him inside the Geneva Bank he did take money from his customers and… well send it elsewhere…
He travels a lot and moves his family to UK, where he pretends to have a job in a company named Roberts Support Service, just to have a fake salary and pay his mortgage and taxes.
In Gforex he seems to be taken by two guys Alessandro Spinardi and Marco Duquette, who were already kicked out from a Hedge Fund “Resolute Capital Growth”, soon to be dead without money. They started to work with him in Italy and then moved directly to Dubai.
In GTL DMCC we meet another guy Irfan Amanat, with his brother and his family (all well known to the courts of U.S.A.), he cooperates strictly with Mr. Riaz, and has an active role in GTL DMCC, where he has the role of CTO and attracts several customers.
What happened to most of those customers we already know.
When times started to get rough, the Amanat moved away and gained the ownership of Fyshe Horton Finney, historical company regulated by the FSA in the UK, while in Dubai they joined Spinardi and Duquette in a new project named Bridge DMCC, and they keep their cooperation with Riaz more “private”.
Nowadays Riaz is pushing a lot his Australian new venture, due to all the troubles he is having in Dubai. Gtl DMCC seems to work without a proper brokerage license, even if it seems still headquarters of the group, and for example is acting as Prime Broker for Hedge Funds like the one managed from Swiss company Capricorn in the Cayman Islands, who knows if all the money supposed to be AUM really is all there.
Soon to be updated.
thank you very much,your participation is very interesting and instructive.
With regards to Alessandro Spinardi,managing director in Gforex with Claudio di Fonzo,this shifty guy, also launched another mysterious company, named Equis,based in Luxembourg,with his "partners",Marco Duquette,Claudio di Fonzo and Mahmood Riaz.
(go to Equis s.à.r.l.).
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