Real Estate Manager Held for Selling Fake Residential UnitsTuesday, June 09, 2009
An Arab manager of a real estate company, who allegedly sold non-existent residential units in his country to people in the UAE, was arrested late last month just before he could flee through the Abu Dhabi International Airport. He is being accused of cheating people, who did not approach the police because they were not sure of his intention. However, after the news of his arrest some people are coming forward to lodge complaints. Ten people – seven UAE nationals, two Syrians and a Swede – have alleged that they paid thousands of dirham to the manager as the first installments for apartments, but didn’t receive any contract and ownership titles. Colonel Maktoum Al Shuarqi, Director of Criminal Investigations and Intelligence, Abu Dhabi Police, said an advertisement published by a real estate company in a local newspaper for the sale of residential units at low prices and with soft payment terms in an Arab country, gave rise to suspicion.
The ad said that the prospective buyer could pay 20 per cent of the value of the property and pay the rest in installments spread over 40 months. Lieutenant-Colonel Rashid Mohammed bu Rashid, head of Organized Crimes Department, said investigations revealed that the arrested person was being assisted in the alleged fraudulent deed by another foreigner and a UAE national, who served as sleeping partner. The company had no account in any local bank,” he pointed out. As a precautionary measure, the police blacklisted the manager until the completion of investigations. The manager had handed over to the landlord the key to the apartment after the expiry of the six-month contract, he said. With help from the UAE foreign ministry, the diplomatic mission of the manager’s country was asked to verify the the projected lands or residential units. The diplomatic mission reported that no such land, properties or building licenses existed.Source: Khaleej Times