DUBAI — The owner of the fraudulent Royal Luck Foodstuff Trading, Yogesh Ashok Yariava, fled the UAE on an Indian repatriation flight after stealing goods worth nearly six million dirhams, giving hard time to scores of businesmen to count their losses.
Yogesh Ashok Yariava, 36, is a prime suspect in the audacious scam took a flight to Hyderabad from Abu Dhabi on May 11 under the Vande Bharat Mission with around 170 evacuees, according to a local daily.
In a replay of the familiar trading scam, conmen representing Royal Luck Foodstuff approached unsuspecting traders and made bulk purchases against post-dated cheques.
They bought anything they could get their hands on:
Facemasks, hand sanisters and medical gloves worth nearly half a million dirhams from Skydent Medical Equipment, Raheeq Laboratories and GSA Star; rice and nuts (Dh393,000) from Al Baraka Foods; tuna, pistachios and saffron (Dh300,725) from Yes Buy General Trading; French fries and mozzarella cheese (Dh229,000) from Mehdu General Trading; frozen Indian beef (Dh207,000) from Al Ahbab General Trading and halwa and tahina (Dh52812) from Emirates Sesame Factory. It’s a long list and it keeps getting longer as more victims come forward, says the report.
When their post-dated cheques started bouncing, the traders rushed to Royal Luck’s Opal Tower office in Business Bay. But it was too late. They had shut down and all their 18 staffers had disappeared. Visits to their warehouses also drew a blank.
There is long list of scams and frauds done by conmen involving heavy amounts mentioned in a report published by Dubai-based English daily Gulf News.