The Seventy Ninth Group, a UK-based asset management company that began operations in the UAE in 2022, is currently under investigation for alleged fraud involving investor loan returns.

The City of London Police has confirmed it is probing a suspected widespread fraud case, with reports indicating that the firm offered investors returns as high as 15% on loans.

In a recent operation, police raided multiple properties in Merseyside, England, resulting in the arrest of four individuals.

Authorities reported the seizure of a significant amount of cash, luxury watches, and jewellery as part of the investigation.

The police have urged anyone contacted regarding investments from the Seventy Ninth Group to report to them via the Major Incident Public Portal.

The company reportedly sells loan notes secured against properties, accepting investments starting at £10,000.

Its business portfolio extends beyond asset management into real estate, wealth management, and mining operations in Canada and Guinea.

In response to the allegations, the Seventy Ninth Group has publicly denied any wrongdoing, stating that it is cooperating with legal advisors and has engaged independent forensic accountants to review its operations.

The firm emphasized its ongoing commitment to its clients in the UK and internationally.

The unfolding situation has raised concerns within business circles in the UAE regarding investor protection and regulatory oversight, particularly in the context of cross-border financial operations.

As the investigation continues, the four individuals arrested have since been released on bail while inquiries remain active.