Gazans fleeced in investment scam

Hamas investigates scheme that cost thousands of Palestinians their life savings.

    Underground tunnels in the Gaza Strip are the only way for millions of dollars worth of essential supplies to get past Israel's siege of the coastal territory.

    But it has now emerged that at least 40,000 Gazans have lost their life savings in a scheme that promised up to 50 per cent profits in return for an investment in tunnel trading.

    Hamas, which has de facto control of Gaza, returned a fraction of the $100m that disappeared through the scheme, and has said that is investigating the fraud.

    However, with hundreds of middlemen as yet unpunished and many of them rumoured to have had links to Hamas, the duped Gazans say that more should be done.

    Al Jazeera's Zeina Awad reports from Gaza.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Unification: Saladin and the Fall of Jerusalem

    Unification: Saladin and the Fall of Jerusalem

    We explore how Salah Ed-Din unified the Muslim states and recaptured the holy city of Jerusalem from the crusaders.