Beliscity goes out of business


#1

Source

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Mr. Abid Beli of beliscity.com has left karachi and defaulted on a lot of money...so kindly be advised accordingly
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Wasn't this mentioned just a couple weeks back over here?


#2

I’ve been hearing this rumor from a lot of people, but recently 4-5 people who happen to know Abid Beli very well [who is (was?) the CEO of Beliscity] has gone awol!

Rumor has it - he’s jumped town and with about US$ 2 Million and gone to Canada…. and that US$ 2 Million is NOT his money. Its money borrowed from investors / friends, suppliers, etc.

Beliscity website is still running however, the blog has not been updated for a while.

If this IS true… and he has indeed gone to Canada with investors money, it is relatively easy to have him tracked down and confronted. The best place to start with is to write to the Royal Canadian Mounted Police.

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Source: http://faisalkhan.com/?p=497

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Personally i think running this type of business in Pakistan is too hard unless you offer competitive prices like local shops.


#3

Oops.. I saw that coming.

The real question is, can we trust all those Pakistani online shops again?


#4

Is this news is from authenticated source?


#5

eventually bubble will burst in dubai and bubble will burst here(stock-property) and i see many more people going bankrupt in coming days


#6

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eventually bubble will burst in dubai and bubble will burst here(stock-property) and i see many more people going bankrupt in coming days
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eventually every bubble bursts :P thank god i dont own any property or stocks :P


#7

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eventually every bubble bursts :P thank god i dont own any property or stocks :P

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we have experienced such bubble burts


#8

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we have experienced such bubble burts

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Oh yes, samad dadhabhoy, taj co. etc… some years back when they made MANMOO lot of Pakistanis. And yes when stock exchange gone too lowwwww.

But if i stick to post subject that I still did not get any authentic information of beliscity bubble burst.


#9

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And yes when stock exchange gone too lowwwww.

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what about property? DHA

its not gone to the same level that it reached 2.5 to 3 years ago


#10

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what about property? DHA

its not gone to the same level that it reached 2.5 to 3 years ago

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DHA and other area property come down but not that much that peoples gone at zero or minus leve, atleast they have property in thier hand, if not gambled. But in case of stock exchange investors even not able to sell thier shares in market when market is very decreasing. So, you got shares in hand but cant sell, so where your stand.


#11

[quote=", post:, topic:"]

DHA and other area property come down but not that much that peoples gone at zero or minus leve, atleast they have property in thier hand, if not gambled. But in case of stock exchange investors even not able to sell thier shares in market when market is very decreasing. So, you got shares in hand but cant sell, so where your stand.

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well the prices for some plots have gone down to 1 crore from 1 and a half crore and not going up from last 2.5 to 3 years

but you are right its not like that the market is gone Zero