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    Jo Hopworth on Justice For Natalie – Na…
    Mariam on Criminal Complaint filed in Ge…
    Martin Kraeter on ACI Dubai Funds filed bankrupt…
    Independent Observer on Iranian’s lawsuit reveals roya…
    Rado on DubaiTouristen landen schnell…
    Dubai Citizen on Al Fajer Properties Case…
    Dane on Outlook in concrete- Dubai Wor…
    jamesl fayad on RERA Dubai – Dubai Prope…
    Jacques on Malika Karoum finally arrested…
    James Brown on ACI – Alternative Capita…
    Journalist on Al Fajer Properties-500 Invest…
    ron oakeley on ACI – Alternative Capita…
    Benson Fu on Shahram Zadeh against Al Fajer…
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    • Criminal Complaint filed against Al Fajer Properties Sheikh Maktoum
      Criminal Complaint filed in Germany against Sheikh Maktoum Hasher Maktoum Juma Al Maktoum CEO of Dubai Developer Al Fajer Properties The Dubai Sheikh who mislead and extort a German Couple  Germany – Dubai 2011 A German elderly couple , today 80 + 50 years old who have been Dubai Tourists since a decade, bought in 2005 an apartment at Nakheel´s Dubai Residen […]
    • UAE: Human Rights Blogger, Sorbonne Lecturer Charged With ‘Humiliating' Officials
      source Human Rights Watch www.hrw.org (Beirut) - The United Arab Emirates attorney general should immediately drop all charges against five pro-democracy activists to halt their trial, Human Rights Watch said today. The charges of "humiliating" top officials relate solely to the defendants' peaceful use of speech to criticize the UAE governmen […]
    • Nakheel Dubai Sunland Case
      June 5, 2011After 21 hearings, Chris O'Donnell, the Australian chief executive of Dubai's major developer, Nakheel, came to the defence of his former colleagues Matthew Joyce and Marcus Lee. Mr Joyce and Mr Lee are accused of profiting from the sale of land that had been earmarked for a colossal high-rise development, which was to include the futur […]
    • Dubai Nakheel CEO decided to leave the company
      Dubai June 7, 2011 Nakheel said on Wednesday that its CEO Chris O'Donnell had left the company "after completing his contract terms". O'Donnell, an Australian who joined the developer in 2006, said he had decided to leave Nakheel following five years spent with the company, the statement added. O'Donnell has overseen a traumatic time […]
    • Owner of Dubai Developer Damac Hussain Sajwani files case against Egypt corruption ruling
      Dubai property developer Damac said on Tuesday it had filed an international arbitration case against Egypt over a land dispute and the conviction of its chairman and owner, Hussain Sajwani.A Cairo court last week sentenced Sajwani in his absence to jail and ordered him to pay a $40.5 million fine in connection with his 2006 purchase of land at Egypt's […]
    • Dubai Palm Jumeriah - Investors plan to take legal action
      Investors in Dubai Palm Jumeirah’s Golden Mile complex will this week serve the developer behind the project with a legal ultimatum to hand over their units or issue them with a refund.Up to ten investors in the luxury complex plan to issue Souq Residences with legal notice in a bid to force a resolution to a dispute that has been ongoing for more than a yea […]
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Archive for August, 2010

Update Fraud Case Dynasty Zarooni – Ebony Ivory Towers Al Fajer Properties

Posted by 7starsdubai on August 22, 2010


source Emirates Business 247

The Dubai Court of Appeal heard on
Thursday two cases related to Dynasty Zarooni in which the company, its owners and executive are accused of defrauding property investors of a total of Dh1.2 billion.

In the first case, the court, which was supposed to give a verdict regarding a request made by 36 investors for instating defrauding accusation, adjourned the case to September 23 for verdict as one of the three accused failed to attend the hearing. In 2009, the plaintiffs had filed complaints claiming that Dynasty Zarooni, the companys partner, CEO and managing director, Kabir Mulchandani, and its British executive, RG, had sold investors plots of land that did not exist.

The case was dismissed by the prosecution after reviewing a report handed in by a property market expert assigned by the accused.

The plaintiffs challenged the decision considering that flawed investigations were conducted.

Al Shaali and Company, representing the plaintiff, submitted in an earlier hearing his defence saying the prosecution combined non-related complaints filed to police against Dynasty Zarooni into one case and failed to investigate the property fraud.

In the second case, the 36 local and overseas investors appealed the acquittal sentence awarded in the favour of Dynasty Zarouni, is Emirati partner Hilal Zarooni ,CEO and managing director and executive on May 30.

The subject of this case was that the company and its officials have set up a bogus investment portfolio and promised them hefty returns and defrauded investors of Dh893 million.

They complained that KM received subscription fees of Dh300,000 a month from 12 members of the so-called “investment club” with a promise of hefty monthly returns six months after investing their money in real estate projects, which they claimed they did not receive.

They also claimed that there were no escrow accounts for projects they had invested in.

Besides, they complained that the accused made announcements regarding projects( Jumeirah Business Centre 6,7,8,9 or Ebony and Ivory Towers) contrary to reality. Some projects claimed to be in construction proved to be sandy lands.

The sentence of the Court of First Instance was based on a report presented to the court by the defence lawyer proving that investors had received more than Dh232m in profits.

Posted in Al Fajer Properties, Al Shaali Advocates, Dubai Justice, Dynasty Zarooni, Jumeirah Business Centre, Kabir Mulchandani, Sheikh Maktoum Hasher Maktoum Juma Al Maktoum-2 | Tagged: , , , , , | Comments Off on Update Fraud Case Dynasty Zarooni – Ebony Ivory Towers Al Fajer Properties

Harassed, stalked and tortured by Emaar – US citizen sues Emaar

Posted by 7starsdubai on August 16, 2010


source

Dubai based  Emaar Propertiesbest known for building the world’s tallest
building, the Burj Khalifa, has been sued in California for torture and
false imprisonment by American businessman Lionel Lombard. United States
District Court, Eastern District of California, Case 2:10-at-00928 LOMBARD v. EMAAR USA et al.

Mr. Lombard a former partner in a Dubai public relations firm complained
about Apartheid and treatment of foreign workers at one of Emaar’s
flagship properties, The Springs.

Mr. Lombard, an American citizen, was repeatedly harassed by Emaar’s
security guards because of his stance. After he took his case directly
to Emaar’s chairman, Mohammed Ali Alabbar, Lombard was imprisoned for
almost two years, beaten and tortured in Dubai and Abu Dhabi.

All charges against Lombard were dropped in February 2010 without
explanation. Non citizens are often imprisoned in Dubai at the whim of
officials or due to business disputes. Despite attempts by Dubai to
portray itself as a progressive business and tourist destination, the
reality is that hundreds of non citizens are jailed each year due to
minor civil disputes. Emaar and Mr. Alabbar became incensed at Lombard after local media picked up his story.
The lawsuit also charges Emaar’s USA Division with unfair competition under California law. Emaar is the developer of the ultra luxury Beverly West tower in Los Angeles.
According to attorney Jonathan Levy, Emaar engages in illicit  business practices by imprisoning and torturing its critics.

Posted in Emaar, Human Rights Dubai, Torture Dubai | Tagged: , , , , | Comments Off on Harassed, stalked and tortured by Emaar – US citizen sues Emaar

Dubai Debtors Prisons – Legal System on trial

Posted by 7starsdubai on August 11, 2010


source Bloomberg

Reporter on this story: Henry Meyer in Dubai at hmeyer4@bloomberg.net; The editor responsible for this story: Peter Hirschberg

Not long ago, British businessman Ryan Cornelius was living the high life, doing deals out of Bahrain and taking his family big-game fishing on his yacht and on safari in Kenya. He’s now into his third year in a Dubai jail cell, yet to be convicted of anything.“The worst aspect of the way we’ve been treated is the fact that the legal system seems to be so suspended in its own inefficiency,” he said from a pay phone at Dubai’s Central Prison. “We just don’t seem to move forward. The whole legal system seems to hold you in a state of constant suspension.”

Cornelius, 56, and six co-defendants have been charged with defrauding Dubai Islamic Bank PJSC of $501 million, one of the largest such cases in the history of United Arab Emirates. He says he did nothing wrong, and like others, foreigners and nationals, who profited in Dubai in the boom times, he waits in prison as the legal system slowly tries to separate the guilty from the innocent of those
arrested in an anti-corruption drive.

Dubai’s image as the Singapore of the Middle East, a global hub for finance and tourism, is being tested as it tries to clamp down on excesses such as fraud and over development, which came with an explosion of people and investment. Its judicial system still often has more in common with its regional neighbours than the Western nations that it aspires to emulate, say lawyers and economists who work there.

The government won’t say how many people have been arrested in the two-year campaign against financial corruption. Detained in Dubai, a London-based lobbying group, says several hundred executives may have been jailed.

Debtors’ Prisons In all, about 40 percent of the 1,200 people in Dubai Central Prison have been convicted of defaulting on bank loans, Human Rights Watch said in a report in January. Even after completing their sentences, the New York-based group said, prisoners are likely to remain in jail until their debt is paid off, unlike in the U.S. or the

U.K., where debtors’ prisons were abolished in the 19th century.

continue reading

Posted in Dubai court, Dubai Debts, Dubai Justice | Tagged: , | Comments Off on Dubai Debtors Prisons – Legal System on trial

Blackberry ban in UAE – Hilary Clinton get`s involved

Posted by 7starsdubai on August 9, 2010


The United Arab Emirates has said it intends to prevent the phones
sending e-mails, accessing the internet, and delivering instant
messages.

Authorities in Dubai and Abu Dhabi are unhappy that they are unable to monitor such encrypted communications via the handsets.

Mrs Clinton said authorities had to balance “legitimate security concerns” with “right of free use and access”.

“We are taking time to consult and analyse the full the range
of interests and issues at stake, because we know that there is a
legitimate security concern,” Mrs Clinton said.

“But there is also a legitimate right of free use and access.

“So I think we will be pursuing both technical and expert discussions as we go forward,” she added.

source BBC News

continue reading….

Posted in Blackberry Dubai | Tagged: , | Comments Off on Blackberry ban in UAE – Hilary Clinton get`s involved

Bankruptcy in Dubai

Posted by 7starsdubai on August 9, 2010


The shaky financial status of a company in Dubai

source Emirates 247

The Dubai Cassation Court has issued a principle stating that failure to pay one commercial debt is sufficient to declare a company bankrupt.

The court has based the principle on the Commercial Transactions Law, which states that to declare a company bankrupt, failing to pay a number of commercial loans is not the provision, but failing to pay only one debt is sufficient as it implies a shaky financial status.

The law also allows the creditor of a limited liability company to ask the court to declare a company bankrupt if it fails to pay a mature debt.

The court issued this principle after hearing a dispute between two companies one of which asked the court to declare the second bankrupt, red seal it and appoint a judicial guard to manage it and preserve its money.

The company said in its complaint that it had obtained a judicial ruling regarding its entitlement for the credited amount of Dh921,000 in addition to the legal profits.

The court found that other creditors are asking for their money and for the seizure of the respondent company’s money.

The respondent company has no location and activity, which clearly proves that it will not pay debts upon maturity. The situation shows the shaky financial status of the respondent company, which subjects its creditors to a real risk that deems declaring it bankrupt.

The Court of First Instance had turned down the case. The Court of Appeal had also upheld the verdict of the Court of First Instance.

The Court of Cassation rejected the verdict and accepted to hear the case again.

The Court of Cassation said in its statement that the respondent company is still, and without any right, not paying commercial debts despite of their maturity. There are also seizure claims by other creditors filed against the company.

Besides, criminal cases were filed against its director for issuing bad cheques that landed him in jail.

The court cannot consider having the partner in jail as a reason beyond his control, but rather it was the result of a deed he has committed: signing bad cheques, the court debated.

All these are sufficient evidences about the shaky financial status of the company that subject its creditors to real risk, concluded the principle by the Court of Cassation.

Posted in Dubai court, Dubai Debts, Dubai Justice, Dubai Legal - Real Estate Lawsuits | Tagged: | Comments Off on Bankruptcy in Dubai

Dear Sheikh Mohammed – Please please get me help justice for my Dad

Posted by 7starsdubai on August 6, 2010


Posted in Dubai court, Premier Real Estate Dubai, Safi Qurashi, Sheikh Manea Hasher Al Maktoum | Tagged: , , , , | Comments Off on Dear Sheikh Mohammed – Please please get me help justice for my Dad

How a 11 year old girl is fighting for her dad – Dubai developer is facing longer prison term

Posted by 7starsdubai on August 4, 2010


source 7 days
Sara Qurashi, 11, launched ‘Justice For My Dad’ in May after her father Safi, owner of Great Britain on The World islands, was sentenced to four years in prison for bouncing two cheques.

The father-of-three has now been given a further three years to serve behind bars for a third stopped cheque. The three cheques relate to a property deal with a Russian client and total dhs200 million. Qurashi denies any wrongdoing and says the cheques should never have been cashed. Sara said:

“My dad had lawyers and he believed justice would be done. But now my dad has been given a sentence of seven years in jail. So that’s why I am trying to help him.”

continue reading…….

and ….   article 7days from July Girls gutsy bto free her Dad

The case details are shown on Sahra Qurashi”s Website:

www.justiceformydad.com

Here you will also find the letter she wrote to HH Sheikh Mohammed bin Rashid al Maktoum, Ruler of Dubai

Sahra`s messages are also on Twitter and Facebook

read also from the National August 1, 2010
British Developer fires lawyer to defelnd his own case

DUBAI // A British investor who is appealing a seven-year
sentence for three counts of issuing bad cheques dramatically dismissed his defence team in court yesterday.
Safi Qurashi appeared at the Dubai Court of Appeals on a charge of dishonouring a Dh179 million cheque to a Dubai-based trading company.
Mr.Qurashi denied the charge before Presiding Judge Adnan al Farra. He said he had presented the cheque as security to an investor he represented in a property deal at The World islands project.
In a surprise move, the defendant then asked for the dismissal of his legal representation. “I would like to submit my own defence,” SQ told the court.
Advocate Mariam al Falasi, from law firm Hussain Lootah & Associates, told the court her firm had not been notified of any dismissal and presented her power of attorney letter to the court.

Posted in Dubai, Dubai court, Dubai Justice, Nakheel, Premier Real Estate Dubai, Safi Qurashi, Sheikh Manea Hasher Al Maktoum, The World Dubai | Tagged: , , | Comments Off on How a 11 year old girl is fighting for her dad – Dubai developer is facing longer prison term

Pilotklage gegen ACI Dubai Fonds

Posted by 7starsdubai on August 3, 2010


source
Die Anwaltskanzlei Hahn Rechtsanwälte Partnerschaft (hrp)
bereitet eine erste Pilotklage gegen die Alternative Capital Invest GmbH & Co. KG (ACI), die beiden
Treuhandkommanditistinnen sowie die Hamburger Finanzkontor GmbH & Co. KG vor und wird die Klage in den nächsten Tagen beim Landgericht Hamburg einreichen. Dabei macht die Ehefrau des Anlegers die Schadensersatzansprüche aus abgetretenem Recht geltend.

Ein Hamburger Kaufmann hatte sich in den Jahren 2005 und 2006 als Privatanleger auf Empfehlung seines Anlageberaters unter anderem an der Alternative Capital Invest GmbH & Co. II bzw. III. Dubai Tower KG beteiligt und ihm ist dadurch ein Schaden von etwa 245.000,00 EUR entstanden. Nach Auffassung von hrp hat sich die ACI schadensersatzpflichtig gemacht. Aufgrund der Angaben der in den Prospekten abgedruckten Gesellschaftsverträge muss der Leser zu dem Ergebnis gelangen, dass die Fondsgesellschaften die Grundstücke in eigenem Namen halten. Dies ist in der Praxis jedoch nicht der Fall. Bei der III. Dubai Fonds Tower KG ist die sogenannte „Dubai Branch”, die als unselbständige Niederlassung der Komplementärin in Dubai eingetragen ist, als Treuhänderin für die Fondsgesellschaft Eigentümerin des Grundstücks. Das Grundstück der II. Dubai Fonds Tower KG
wird weiterhin von der Verkäuferin als Eigentümerin gehalten.

Es macht aus Sicht von hrp einen großen Unterschied, ob die Fondsgesellschaft oder die Komplementärin Eigentümerin eines Grundstücks ist. Hinzu kommt, dass die ACI Branch ohne Genehmigung der Anleger die registrierten Käufer der II. Dubai Fonds Tower KG auf die III. Dubai Tower KG übertragen hat.
Dies könnte den Straftatbestand der Untreue verwirklichen. Mittlerweile hat auch die
Staatsanwaltschaft Bielefeld ein Ermittlungsverfahren gegen Verantwortliche der ACI eingeleitet und am 22.06.2010 die Büroräume der ACI in Gütersloh durchsucht. In einer Presseerklärung vom 24.06.2010 teilt die Staatsanwaltschaft diesbezüglich mit, dass die gewonnenen Erkenntnisse den Verdacht des Kapitalanlagebetruges bisher nicht erhärten konnten. Eine genaue Auswertung dervorgefundenen Unterlagen bleibe insoweit abzuwarten.

Nach Auffassung von Anlegeranwalt Peter Hahn aus Hamburg wird es höchste Zeit, dass die Gesellschafter der verschiedenen ACI-Dubai-Fonds sich untereinander austauschen und zivilrechtlich durch einen Fachanwalt die Geltendmachung von Schadensersatzansprüchen prüfen lassen. „Insbesondere Anleger mit einer eintrittspflichtigen Rechtsschutzversicherung sollten sich von den Verantwortlichen der ACI nicht weiter vertrösten lassen. Wenn die Anleger weiterhin nichts unternehmen”, so Anwalt Hahn weiter, „droht eine Verjährung ihrer Schadensersatzansprüche”.

_______________________________

Desweiteren wurde inzwischen von geschädigten Anlegern und ACI Investoren die Interessengemeinschaft ACI e. V ins Leben gerufen.

Informationen zu dieser Interessengemeinschaft finden Sie unter:

www.aci-anleger.de

Posted in ACI Immobilienfonds, ACI Lohmann Dubai, Dubai, Robin Lohmann, Staatsanwaltschaft | Tagged: , , , | Comments Off on Pilotklage gegen ACI Dubai Fonds

Dubai Property Investors frustrated

Posted by 7starsdubai on August 1, 2010


source Emirates Business 247
Dubai, 29 July 2010

Investors in the UAE’s real estate are a frustrated lot, but not just because the sector is in the throes of the worst-ever slowdown it has witnessed. That’s a known fact, and most investors have reconciled to it.
However, what is not known and, therefore, much more frustrating, is the status of the projects in which they have invested their hard-fought cash.

Many developers in the country have apparently chosen to not communicate with their clients about when the stalled projects are going to take off and when will they be delivered, if at all.
Property blogs and social media sites are full of frustrated investors venting their ire.
continue reading….

Posted in 7starsdubai, Dubai Property dispute, Dubai Property Investors, Real Estate Scandal Dubai, Rera Dubai, Skyscrapercity | Tagged: , , | Comments Off on Dubai Property Investors frustrated

 
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