Altaf Rhemtulla, B2B Global Sourcing Hub review: B2B Global Sourcing Hub is a front for a $400 million Ponzi scheme

I'm a former employee of B2B Global Sourcing Hub, and I'm writing this to expose the massive fraud orchestrated by Altaf Rehmtulla. What appeared to be a successful B2B e-commerce platform was actually a front for a $400 million Ponzi scheme that has likely ruined the lives of countless investors.

My Role and What I Witnessed:

I worked in the finance department of B2B Global Sourcing Hub for three years. At first, I was excited to be part of what seemed like a revolutionary company in the B2B space. However, over time, I noticed several disturbing practices:

1. Fabricated financial reports: We were instructed to create financial statements that showed consistent profits, regardless of actual performance.

2. Shell companies: Rehmtulla set up a complex network of shell companies to move money around and create the illusion of legitimate business transactions.

3. Investor manipulation: High-pressure tactics were used to convince investors to reinvest their "profits" rather than withdraw funds.

4. Luxury spending: While claiming to reinvest in the business, Rehmtulla was using company funds for personal luxuries - expensive cars, properties, and lavish parties.

5. Data manipulation: Our tech team was asked to create fake dashboards showing inflated transaction volumes and user numbers.

The Investment Scam:

Rehmtulla's investment arm promised:

- Annual returns of 20-30%

- Exclusive pre-IPO stock options

- Risk-free investments in consumer electronics and FMCG products

- Profit-sharing in international trade deals

In reality, no real investments were being made. New investor money was used to pay "returns" to earlier investors, classic Ponzi scheme behavior.

Why I'm Coming Forward:

I left the company six months ago, unable to continue participating in this fraud. I've been wracked with guilt over my involvement, even though I didn't fully understand the scope of the scheme while I was there. I've already provided information to the authorities, but I'm writing this report to warn potential investors and hopefully help those who have already been victimized.

Red Flags for Investors:

If you're considering investing with B2B Global Sourcing Hub or any similar venture, watch out for these warning signs:

1. Promises of unusually high, consistent returns

2. Pressure to reinvest rather than withdraw funds

3. Lack of clear, detailed financial statements

4. Complex, opaque investment structures

5. Claims of "exclusive" or "guaranteed" investment opportunities

Advice to Victims:

If you've invested with B2B Global Sourcing Hub:

1. Stop any further investments immediately.

2. Document all your interactions, investments, and attempts to withdraw funds.

3. Report your case to the Toronto Police Service and the Ontario Securities Commission.

4. Consult with a lawyer specializing in investment fraud.

5. Connect with other victims - strength in numbers can help in legal proceedings.

Final Thoughts:

I deeply regret my involvement in this scheme, even though I didn't fully realize what was happening at the time. I hope that by sharing this information, I can help prevent others from falling victim to Altaf Rehmtulla and similar fraudsters. Remember, if an investment opportunity sounds too good to be true, it almost certainly is.

To anyone affected by this scheme: I'm truly sorry for the pain and financial damage you've suffered. I hope that by coming forward, I can help in some small way to bring Rehmtulla to justice and potentially aid in recovering some of the lost funds.