Indian Man Jailed For 500 Years In Dubai For $200 Million Fraud In Ponzi Scheme

This could not have happened in India. A Goan, identified as Sydney Lamos has been sentenced along with his senior accounts specialist, Ryan de Souza, to more than 500 years in prison by a Dubai court on Sunday for the $200 million Exential scam, had access to the who’s who of world football not so long ago.

Lemos (37) and Ryan de Souza (25) were convicted of duping thousands of investors in a Ponzi scheme that offered investors 120% annual returns on a minimum investment of $25,000 through his company Exential.

The company paid profits initially but stopped paying investors after the scheme collapsed in March 2016 and the Dubai Economic Department shut down the company’s offices in July 2016.

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