Altaf Rhemtulla (B2B Global Sourcing Hub) believed I was making a smart investment, but now I fear I've lost my life savings in what appears to be a massive Ponzi scheme. Internet
About 18 months ago, I was introduced to Altaf Rehmtulla through a business associate. Rehmtulla was charismatic and convincing, boasting about his success in international trade and B2B e-commerce. He offered an "exclusive" investment opportunity through his company, B2B Global Sourcing Hub. The pitch included:
1. Promised returns of 20-25% annually
2. "Guaranteed" access to pre-IPO stocks of hot tech startups
3. Investments in consumer electronics and FMCG products with "risk-free" buyback options
4. Opportunities to profit from international trade deals
It all sounded too good to be true, but Rehmtulla's reputation and the success stories from other investors convinced me to take the plunge.
Red Flags (That I Ignored):
Looking back, there were several red flags that I unfortunately overlooked:
1. Pressure to reinvest earnings instead of withdrawing
2. Lack of detailed financial statements or clear explanation of how profits were generated
3. Unusually complex investment structures
4. Consistently high returns regardless of market conditions
5. Vague responses when asked about specific investments
The Fallout:
Recently, news broke that Rehmtulla is under investigation for an alleged $400 million investment scheme. My heart sank as I realized I might be one of the victims. My attempts to contact B2B Global Sourcing Hub have been met with silence. I've been unable to withdraw any funds, and I fear my entire investment of $250,000 may be lost.
Warning to Others:
I urge anyone considering investing with Altaf Rehmtulla or B2B Global Sourcing Hub to think twice. If you're already invested, I recommend contacting the authorities or seeking legal advice immediately. Don't fall for the promises of unrealistic returns or exclusive opportunities. Always do your due diligence, no matter how reputable the person or company seems.
Actions Taken:
I've reported my experience to the Toronto Police Service and the Ontario Securities Commission. I'm also in touch with a lawyer to explore my options for recovering my funds.
If you've had a similar experience with Altaf Rehmtulla or B2B Global Sourcing Hub, I urge you to come forward. The more voices we have, the better chance we have of seeing justice served and potentially recovering some of our losses.
Remember, if an investment opportunity sounds too good to be true, it probably is. Don't make the same mistake I did.