Herald: Dubai fraud victims may file complaint with Goa Police against Valany
Herald News

Dubai fraud victims may file complaint with Goa Police against Valany

17 Apr 2018 05:34am IST
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17 Apr 2018 05:34am IST

Claim that under IPC they have a right to complain; Say that lawyer’s fees in Dubai too high

BASURI DESAI

basuri@herald-goa.com


PANJIM: Goans in Dubai are now planning to file a complaint with the Goa Police against Valany Lemos who escaped from the UAE authorities and is believed to be in Goa. Valany, along with her husband Sydney and employee Ryan D’Souza, has been convicted in the multi-million fraud that duped investors of over USD 200 million.

Speaking to Herald over the phone an investor who hails from Goa said that Goan investors are now getting together to file a complaint in Goa against Exential for duping them of their hard earned money.

“According to Section 3 and 4 of India Penal Code we have the right to file a complaint in Goa as authorities have the jurisdiction to investigate the accused and file a chargesheet in court for trial,” an investor said. He added, “We cannot afford the fees of the lawyer in Dubai as they are very high.”

Sydney, Valany and Ryan D’Souza were convicted on April 8, by the Dubai Misdemeanours Court in 515 cases and were sentenced to one year each in jail for 513 cases and two years in jail for the remaining two cases as per media reports.

Sydney, from Mapusa, was the chief executive of Exential, a forex trading company. Investors lost over USD 200 million when Exential failed to pay out after promising 120 percent returns on investments.

According to the investors in Dubai, Valany is the signatory authority of Exential as agreements with the clients were signed by her.

“We are concerned about our investment, the capital investment, which we are asking be repaid. For the last one year Valany has spent crores of rupees on lawyers, if she can afford that, then her company should repay our investment,” another investor said.

According to investors 4000 Indian families have lost the money they had invested in the company. The investors have also approached the Indian Consulate General (CGI) in Dubai and sought their assistance to start a probe in India through a federal agency to recover the invested amount.

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