A BUSINESSMAN has denied swindling thousands of dinars from people in connection with an alleged investment scam.

The 64-year-old Bahraini appeared at the High Criminal Court where he pleaded not guilty to fraud.

He is accused of conning three investors into handing him BD100,000 over a three-year period.The defendant said that he placed the funds in stocks and shares abroad and lost the lot when the investments plunged in value.“I collected money from my friends in connection to investments but I did not trick them into handing me the money,” he said in a statement to prosecutors. “I collected around BD100,000 because they were interested in investing their money and buying shares.“

I met them several times at coffee shops and they kept on insisting on giving me their money.”He said that the complainants initially made thousands of dinars in profits before the shares took a dive. “Shares are risky and it’s not…

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