Questions & Answers
I got a judgment against a cryptocurrency company that failed pay me and closed. What to do?
I give an investment to a Pakistani individual for trading opportunities in cryptocurrency. He gave me three cheques as security against my investment.
He used to give me profits every month. After 4 months, he failed to give me a profit by saying all investments were liquidated and lost.
I opened a cheque execution case against him and all three cheques (100k + 12k + 29K AED) got bounced due to insufficient funds.
During this stage, the person managed to leave UAE and flee to his home country ( Pakistan). It is more than 4 months after my execution case yet I didn't receive any money from the court.
How can I recover my money?
I need a detailed answer.
Thanks.
Dear M.,
Thanks for your inquiry.
Regarding the above, we would like to inform you that, unfortunately, it can be difficult to recover money from someone who has left the country.
However, there are a few steps you can take to try and recover your investment:
1. Contact the individual: If you have their contact information, try reaching out to them and explaining the situation. They may be willing to work out a payment plan or come to an agreement on how to repay you.
2. File a complaint with the police: You can file a complaint with the police in the UAE and provide them with all the relevant documents and evidence.
They may be able to track down the individual and take legal action against them.
3. Hire a debt collection agency: You can also hire a debt collection agency to help you recover your money. They will charge a fee for their services, but they may have more resources and experience in recovering debts.
4. You can appoint us as your lawyer. We can advise you on the best course of action and help you file a case in court.
5. Pursue legal action in the individual's home country: If the individual has assets or a business in their home country, you may be able to pursue legal action there to recover your investment.
It is important to note that the success of these options will depend on the individual's willingness to cooperate and the laws and regulations in their home country.
It may also take time and resources to recover your investment, so it is important to be patient.
Please feel free to contact us by phone or email.
Regards,
Even though he has left the country, the execution case you initiated in the UAE can still proceed.
The court may order the seizure of the person's assets in the UAE, such as bank accounts, properties, or investments, to satisfy the judgment debt.
You need to take the original verdicts, and a true copy from the court, the original executive copy, and stamp it by the embassy and foreign affairs, and the execution must be carried out in Pakistan.
Dear Client,
Thanks for your question, I hope you are doing well. I will definitely assist you in this matter.
To recover your money in the UAE after the individual flees to Pakistan, consult with us.
File a criminal complaint for the bounced checks and continue civil proceedings. If you obtain a judgment, explore international enforcement options in Pakistan.
Negotiate a settlement if possible, but be prepared for a potentially lengthy legal process and consult with us as we are familiar with both UAE and Pakistani laws.
For any further legal assistance, you can WhatsApp us. We have an extensive team of knowledgeable and experienced lawyers to provide the legal assistance you need.
We will definitely be happy to help you.
Thanks & Regards
ABDUL WAHIED
