"Everything that you ever showed us was essentially lies because it was a Ponzi scheme from the beginning..."
A massive scandal has erupted involving UK businessman Aaqib Ahmed, the founder of the investment platform Muslim Pioneer.
In a leaked video, he appears to accept responsibility for running a fraudulent investment operation which has lost potentially hundreds of clients large sums of their personal savings.
The video was leaked to a Whatsapp group titled Victims of Aaqib Ahmed. The group has been flooded with countless testimonies of alleged victims of Mr Ahmed's business, with many claiming to have been robbed of tens of thousands of pounds.
Since the video was leaked, Mr Ahmed has told 5Pillars he has "shortcomings" but has pledged to "finding amicable solutions to resolve the situation and return the original investments."
Dear investors, esp Muslim ones,
- Stop seeking "low risk" capital-guaranteed investments
- Stop falling for garbage crypto yield promises
Riba is a cancer. Cut it out.
Life is risk. Embrace it. Invest in the real economy on a profit-sharing basis.
Crypto currencies are nonsense indeed, and with no actual underlying asset are not compatible with #IslamicFinance Anything crypto and Islamic today is a scam, avoid.
This is interesting but 2 narrow. This isn't case of 1 fraudulent company in a serious industry. Entire notion of crypto is nonsense. Not useful 4 payments. No inflation hedge. No scarcity. No taxing authority. Just a tool of speculation & greater fools. https://t.co/9yweHwwgOL
The lira crashed to a low of 20 TRY/EUR after Erdogan promised to keep lowering interest rates, citing his loyalty to Islamic finance. What about RTE's loyalty to Turks? With inflation at 156.92%/yr by my measure, RTE is destroying Turks' livelihoods.
https://t.co/fOR49YJazw
#IslamicFinance Provides an Alternative to โWinner Takes Allโ Society. Islamic finance advocates for the just, fair, and equitable distribution of income and wealth during the production cycle and provides mechanisms for redistribution to address any imbalances that may occur.