Thus the word of Souk-al-Mankh and its possible role as a money machine spread like a world fire all over the Middle East. Many wealthy Palestinians, Egyptians and Pakistanis went up to purchase stock. They impersonated as Kuwaiti nominees only as only Kuwaitis can trade illegally. Non-Kuwaitis just as badly wanted to invest irrespective of their lack of legal standing.
.One stock, The Gulf Company for Industrial Development, even advanced fifteen fold. This dynamic combo of extreme stock gains and astronomical amounts of leverage made many speculators millionaires and billionaires every night. Scam companies started cropping up over night and no customers no products could be caught. Every one escaped the regulation of Kuwaiti authorities. One IPO example was the emergence of a former failed $100 million real estate venture. It was converted to a hospital called “Gulf Medical” and brought the public by the individuals looking to recoup their initial investment. The investment was a remarkable success and hired some forty Egyptian school teachers to process the stacks of paper work.
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