Dubai Police Arrest “Middle East Bitcoin” or Habibi Coin Founder for Defrauding Millions from Investors

In a strange irony, ‘serial multimillionaire’ Dubai based entrepreneur and philanthropist, Aziz ”Com” Mizra, was taken into custody early on October 30th in a series of scams and cons in investments ran in the UAE. The founder of the now-defunct “Habibi Coin”, which was taunted as the Bitcoin of Middle East, is facing prison time for defrauding investors.

Aziz in Police Custody

According to a post on Gulf News, the flamboyant entrepreneur and mentor is now behind bars at Al Awir jail following reports of multiple frauds in get rich quick schemes that included a cryptocurrency. The report further states the Canadian citizen, born in Pakistan and currently living in Dubai at the Burj Khalifa, was arrested on October 27th by the Bur Dubai Police following a complaint from an investor who lost $150,000 USD in one of his scams.

The serial scammer started a range of dodgy real estate scams, Ponzi schemes, and Habibi coin, all promising investors’ handsome returns but failed to deliver. Together with his brother, Rafaqat ‘Rocky’ Mirza, Com launched the Leverage Programme (LP) in 2015 asking for a minimum of £5,000 investment. The project raised a total of £4 million GBP enticing users with lucrative returns on their investment.

The Habibi Cryptocurrency Scam

Notwithstanding, Aziz launched Habibi coin, a scam cryptocurrency project that has never been functional or listed on ANY exchange. The coin once flaunted as the next Bitcoin of the Middle East promised users a gateway to purchase shares in real estate without having deep pockets and earn large returns on their investment.

“I was familiar with Com Mirza through the internet marketing community where he was considered an authority. I had personal chats with him via Facebook and I sent money to his personal PayPal account,”

one investor from Greece commented on Mizra’s dodgy tactics.