Muslim ponzi scheme unraveled by FBI

This is actually an old story, but maybe there is something new on it that I’m not aware of, but just to remind readers Muslims do scam other Muslims (not just infidels) as we learned here:

A Muslim man from Chicago became a real estate investor and skimmed $44 million from other Muslims. Salman Ibrahim, 37 and two of his Muslim partners opened Sunrise Equities company and lured other Muslims to invest in a sharia compliant business. They assured to pay 15 to 30 percent profit of the investment instead of interest, which is prohibited in Islam.

The company never generated any profit but paid the existing investors from newer investors. However, they built a good reputation among the Muslim immigrants and raised over $40 million through the scheme.

Fazal Mahmood, one of the victims lost more than $200,000. He intended to use this money for his daughters’ education. He told the Associated Press, “I’m a Muslim and he’s a Muslim. I was always taught … a Muslim will never cheat another Muslim.”

Read it all.

Then, don’t forget! we have the San Diego Somali ponzi scheme of last year, here.

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