Zakhir Valimahomed is a graduate of Kings College and a scion of the notorious Valimahomed family. After graduating and not having much luck securing gainful employment, Zakhir decided to join the family business. The only problem is that Valimahomed’s family businesses appear to involve deception, bankruptcy, dodgy offshore companies and now an alleged Ponzi schemes.
The Valimahomed brothers, Nooreddin (Zakhir’s father) and Sadruddin (his uncle), have a business history that reads like a financial horror story – failed ventures too numerous to list here include a handset manufacturer in Russia, a crumbled Cadbury deal, and a UK telco nightmare with WileyFox. But that’s not all – their knack for squirreling away their ill-gotten gains and avoiding taxes through a complex web of offshore trusts adds an extra layer of dodgy dealings.
Daddy Nooreddin has been pursued by countless banks from Moscow to Marseilles for his failure to repay millions of pounds in loans that he took out to fund businesses that subsequently collapsed, after their coffers were emptied. It left him bankrupt. Ironically, his other brother Nazim, publicly claimed to be fed up with the UK banking scene, maybe because UK banks would not finance Nooreddin’s spurious enterprises. So, Uncle Nazim decided to set up his own bank – Kroo. Talk about a plot twist!
But the saga doesn’t stop there. When faced with the mandatory “Fit and Proper” test required by the UK financial regulatory body, the Financial Conduct Authority (FCA), to qualify for a banking licence, Nazim conveniently stood down from the helm. Suspicious, right? According to Companies House, he was the founder and top dog from inception at Kroo – so why not even snag an executive role?
Kroo, operating out of a serviced office, recently made a big fuss about raising £2 million through, of all things, crowdfunding, and then boldly claimed to be well on the way to being the next Starling Bank! At least one of the Valimahomed brothers is ambitious!
But hold on to your hats, readers, because there’s a new twist in the Valimahomed saga. As the brothers age, Zakhir is making his grand entrance into the family business. Jumping headfirst into a lottery business that stands accused of being a glorified Ponzi scheme! What a waste of a top-notch education. Looks like the apple doesn’t fall far from the tree in the Valimahomed family circus.
And what’s the grand finale in this financial soap opera?
It’s a lottery scam, that appears to be a Ponzi scheme in the truest sense! We’ll keep you on the edge of your seats as the cheating ways of Valimahomed family are finally made public.
