Aziz Mirza, who is a Dubai resident from Canada, was recently arrested and accused of running a string of get-rich-quick investment scams. One of the scams he was running was Habibi Coin, a real-estate backed crypto coin. At one point, the coin had been touted as the Bitcoin of the Middle East.
A report appearing in Gulf News claims that Mirza is being held at Al Awir jail. Mirza was arrested by authorities on October 27. His arrest came after UAE residents claimed they had been scammed of over $150,000 in one of the schemes he was running.
An investigation back in April found that Mirza had scammed people from around the world into taking party in dodgy real estate investments and the Habibi Coin. The coin currently has a value of zero. Most of his victims were from the Muslim Entrepreneur Network, which is an online community of UK-based Muslims.
Mirza and his brother had been associated with the organization shortly after its launch in 2015. The two used the platform to promote a scam by the name Leverage Programme. Each member was asked to contribute at least £5,000 to be accepted into the investment project. By early 2017, about 300 people had signed on with 1200 more enrolling over the next few months.
Mirza currently has more than 800,000 followers on Instagram. He appears to lead a life of luxury, which is what might have helped to lure in some of his victims.