The UAE Capital Market Authority (CMA) said it is reviewing the activities of AIX Financial Consultations after it received information that the company had delayed or missed payouts, The National reported. The regulator has not disclosed details and said it will give updates through official channels.
In August, investor Carl Marcus Detloff filed a claim in the DIFC Courts against AIX Secure SPV, a Cayman Islands affiliate of AIX Financial Group, over nine note subscription agreements. He seeks his capital, unpaid interest and a further $900,000. AIX Secure SPV has blamed geopolitical uncertainty and market volatility for affecting part of its products and says restructuring is under way.
Citing the Financial Times, the report said investors have filed claims to recover about $10 million and that AIX Investment Group suspended payments after it promised annual returns of up to 30 per cent.
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The National — insurance ↗This is an original summary of the linked report, selected by our GCC market monitor. Facts are attributed to the publication.