A number of suppliers said cheques by purchasers New Silver Star Trading LLC (NSS) have bounced, its employees are unreachable and its shops and offices are closed.
They estimated the size of the alleged swindle to be Dh15 million to Dh50 million.
Traders added that most of the goods ordered by NSS were electronics like tablet computers, mobile phones and TV sets. Some orders reportedly also included textiles, oil, rice, and other foodstuff.
NSS has a shop very close to Al Riffa police station, where dozens of traders have reportedly filed complaints. The shop has been closed since Sunday mid afternoon, suppliers said.
ccording to traders, two NSS shops in Deira and Bur Dubai wear a deserted look, while a NSS warehouse in Ras Al Khor is empty. Their office in Dubai Airport Free Zone is also closed, they added. NSS mobile phone numbers on documents provided by suppliers were switched off on Monday when Gulf News tried to reach them. A senior police official said that police are investigating the case.