Investigation: EBLN DMCC
Updated: Jul 18, 2022
EBLN DMCC was incorporated on the 16th of September 2019 and is registered as a Dubai Free-zone company under UAE Law. The sole director of EBLN DMCC is Beverly Ryan who is helped by her family.
EBLN DMCC is licensed to trade precious metals and stones, licensed and regulated by the Dubai Multi Commodities Centre and a member of the Dubai Gold Exchange, and is also a member of the Dubai Chamber of Commerce.
Since the creation of EBLN DMCC, it appears that the company claims to have diversified into cryptocurrencies.
Unfortunately, the company was operating a classing investment scam, meaning clients were investing money into said company but barely received any returns if any.
We believe that this conduct by EBLN constitutes fraud under Article 399 of UAE Federal Law No. 3 of 1987 which defines Fraud as taking or gaining from another, property, money, vouchers, or anything of value by deception or lying or trickery which is supported by verbal means or written documents, causing the victim to rely on the same to willingly handover or something of value from himself to the person committing the fraud.
EBLN DMCC has changed its name to EBLN UK LIMITED on August 27, 2020.
We believe that there are perhaps 250 creditors and that the average investment is £35,000 giving an approximate debt of around £8,750,000, but these figures are yet to be confirmed.