One of the biggest personal finance concerns many people have faced over the years is dishonest advisers selling complex, high-commission financial products to unsuspecting investors that can lock them in for years.
Amber Waheed is one of them. The Dubai-based business strategist and author of the recently released The Great Fraud Fightback lost $80,000 after being duped by her adviser into signing up for long-term investments she believed were low risk.
It’s a familiar, heart-breaking tale for many. But Ms Waheed decided to fight back and took her case to the UAE regulators – marking the first step in what turned out to be a landmark legal case
in the UAE when her adviser was convicted
of offering financial advice without a licence.
Host Felicity Glover, the Personal Finance Editor at The National, is joined by Ms Waheed who talks about her experience and offers her advice to victims of financial fraud.