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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 the ‘Fraud’ Category

Dubai Property Fraud – Indian Dubai International City Apartment owner shocked

Posted by 7starsdubai on January 12, 2012


Dubai Gulf News reported today that in a shocking case of property fraud, an Indian resident in Dubai has been locked out of his own apartment that was sold to someone else while he was travelling.

The shocked owner told the Newspaper:

On January 8, Memon, who bought the 914 square foot apartment for a little over Dh250,000 got its title deed transferred to his name. The same day Sameer lodged a complaint with the public prosecution seeking criminal action against Port Real Estate, Memon and Dinara for cheating and fraud. “It looks like they used a forged power of attorney. Never in my wildest dreams had I thought that I would be fighting a case of house grabbing in Dubai. I bought this apartment with my hard-earned money. My wife and I spent days furnishing it. Now everything is gone — not just the house but its entire belongings worth several thousand dirhams. I want justice,” he said.

continue reading Gulf News

Posted in Criminal Complaint, Dubai, Dubai Property Fraud, Dubai Real Estate, Fraud | Tagged: , , , | Comments Off on Dubai Property Fraud – Indian Dubai International City Apartment owner shocked

ACI Fonds Dubai Betrug – Anleger Demo vor der Staatsanwaltschaft Bielefeld

Posted by 7starsdubai on November 1, 2011


Schon seit einem halben Jahr schmort am Landgericht Bielefeld  die Betrugs-Anklageschrift der Staatsanwaltschaft gegen Robin (41) und dessen Vater Hanns-Uwe Lohmann (65) aus Gütersloh, ohne dass sich etwas tut. Morgen wollen die Opfer auf die Straße gehen.

Die Initiatoren von sechs gescheiterten Dubai-Wolkenkratzer-Fonds der ACI (Alternative Capital Invest) GmbH laufen unbehelligt herum. Dem Junior konnte die Anklageschrift noch nicht einmal zugestellt werden, weil er sich nicht in Deutschland, sondern in Holland aufhalten soll.Die Straf-Justiz verzichtet aber auf die Möglichkeit einer öffentlichen Zustellung im Elektronischen Bundesanzeiger. Und den 6.000 ACI-Anlegern, die um 275 Millionen Euro eingezahlter Gelder bangen, läuft wegen der dreijährigen Verjährungsfrist die Zeit davon.
Demo um 13.30 Uhr vor der Staatsanwaltschaft Bielefeld
Deshalb hat die Interessengemeinschaft IG ACI-Anleger e.V. aus Hillesheim, in der sich 2.000 Anleger zusammengeschlossen haben, für den morgigen Mittwoch (2. November 2011) zu einer Demonstration durch die Bielefelder Innenstadt aufgerufen. Die Anleger treffen sich um kurz nach 13 Uhr vor der Staatsanwaltschaft Bielefeld (Rohrteichstraße 16) und wollen mit Kind und Kegel sowie Freunden und Bekannten die Justiz aus dem vermeintlichen Dornröschenschlaf erwecken. Der Marsch endet vor dem Haupteingang des Landgerichts Bielefeld (Niederwall 71).

“Ich bin ein geschädigter Anleger und will einfach nur mein Geld zurück”, erklärt der Eingetragene Kaufmann Berthold Michel (Finanzberatung und Anlagemanagement) aus Aschaffenburg dem Finanznachrichtendienst GoMoPa.net, warum er sich von Bayern nach NRW auf den Weg macht. “Presse, Funk und Fernsehen sind informiert und werden um 13.30 Uhr in der Rohrteichstraße 16 anwesend sein.” Einen Weg, wie er sein Geld zurückerlangen kann, hat er noch nicht gefunden. “Da haben mir bislang weder Rechtsanwälte noch Journalisten helfen können.” Dennoch gibt der Bayer nicht auf.

Ebenso wie der Geschäftsführer der IG ACI-Anleger e.V., Rainer Regnery von Regnery & Partner Financial Wealth Management aus Hillesheim. Regnery vereitelte die Pläne der Lohmanns, die zur Insolvenz angemeldeten Fondsgesellschaften II bis V wegen nicht vorhandener Gläubiger und wegen Masselosigkeit von Amts wegen löschen zu lassen.

Mit Scheinrechnungen und falschen Gutachten wollten die Lohmanns 80 Prozent der Fondsgelder einfach abschreiben lassen. Doch das Insolvenzgericht (Amtsgericht Bielefeld) will sehen, wo dann wenigstens die 20 Prozent vorhandener Gelder hin sind. Die Lohmanns spielen auf Zeit.

Während der Sohn nicht auffindbar ist (auch nicht an seiner alten Adresse in Dubai, weil dort die Staatsanwaltschaft mit einem Haftbefehl wartet), könne Lohmann-Senior wichtige Dokumente und Unterlagen nicht finden. Die ACI-Anleger fragen auch hier, wie lange sich die Justiz noch hinhalten lassen will.

Das ist deshalb wichtig, weil die noch verbliebenen zwei Fonds VI und VI aufgrund derselben Gutachten kleingerechnet und zum 31. Dezember 2011 aufgelöst werden, wenn die Anleger nichts dagegen unternehmen. Nur wenn die Fonds weiterbestehen, können die Anleger Zwangsvollstreckungen gegen die Emittenten einleiten und sie zwingen, endlich zu erklären, wo die Gelder wirklich gelandet sind.

Bei den Fonds VI und VII habe Vater Lohmann seinem Sohn ein Genussrecht über 84 Millionen Euro als kostenloses Darlehen eingeräumt. Bei den Fonds II bis V wurden Grundstücke in Dubai gar nicht im Namen der Fonds, sondern durch die ACI GmbH gekauft und ins Grundbuch eingetragen, die nicht den Anlegern, sondern allein den Lohmanns gehört. Robin Lohmann besitzt in Deutschland mehrere Firmen, die er sich mit Anlegergeldern über seine ACI Real Estate LLC zusammengekauft hat. So die Kunststofftechnik Vogelsang GmbH aus Gevelsberg bei Düsseldorf oder die Kerzenmanufaktur Eika in Fulda.

ACI-Fonds II – V: Sachbestandsbericht des Insolvenzverwalters

Der vom Gericht bestellte Insolvenzverwalter hat zu den Fonds seine Sachstandsberichte abgegeben, zuletzt am 12. August 2011 zum ACI-Fonds IV, in dem vieles bestätigt wird, was die IG ACI-Anleger e.V. schon seit langem vermutet und befürchtet hatte. Er führt dort unter anderem aus:

Zitat:

1. Die Anlegergelder des Fonds wurden von der Treuhandkommanditistin DMI auf ein privates Konto von ACI-Geschäftsführer Robin Lohmann in Dubai gezahlt, über deren Verwendung bis heute keine vollständigen konkreten Nachweise (Kontoauszüge et cetera) vorgelegt wurden.

2. Anwälte haben erhebliche Schwierigkeiten, dem Hauptverantwortlichen ACI-Geschäftsführer Robin Lohmann Klagen zuzustellen. Er hat offiziell nur einen Wohnsitz in Dubai, wo er aber erkennbar nur eine nicht zustellungsfähige Scheinadresse hat. Er wurde nachweislich seit 1 1/2 Jahren nicht mehr in Dubai gesehen und wird dort mit Haftbefehl gesucht.

3. Die ACI-Geschäftsführer Hanns Uwe Lohmann und Robin Lohmann kommen ihrer Auskunftspflicht gegenüber der Insolvenzverwaltung nicht beziehungsweise nur in unzureichendem Umfang nach.

4. Die Jahresabschlüsse der Wirtschaftsprüfer Hecker & Kollegen, Gütersloh, basieren auf der rechtlich nicht zulässigen und tatsächlich nicht umgesetzten Liquidation der Gesellschaft zum 31. Dezember 2008, der wiederum der als Scheinvertrag einzuordnende Kaufvertrag mit der Firma Yama International LLC vom 29. Dezember 2008 zugrunde lag.

Anmerkung der IG ACI-Anleger e.V.: “Kein Wunder, dass die teilweise erheblichen Verlustzuweisungen, die die Wirtschaftsprüfer den Anlegern zu ihren Fondsbeteiligungen übersandt hatten, bis heute von den Finanzbehörden nicht anerkannt wurden.”

Selbst bei den Gläubigerversammlungen versuchte Hanns-Uwe Lohmann zu tricksen

Quelle    PDF

Posted in ACI Real Estate Dubai, Dubai, Fraud, Immobilienbetrug Dubai, Robin Lohmann, Strafanzeige Deutschland, Strafanzeige Dubai | Tagged: , , , , | Comments Off on ACI Fonds Dubai Betrug – Anleger Demo vor der Staatsanwaltschaft Bielefeld

Maktoum Hasher Al Maktoum Al Fajer Properties Dubai

Posted by 7starsdubai on February 10, 2011


Video Sheikh Maktoum Hasher Maktoum Al Maktoum Al Fajer Properties Dubai UAE

read also ….. Criminal complaint filed in Germany against Sheikh Maktoum Hasher Maktoum CEO of Al Fajer Properties Dubai

Posted in Al Fajer Properties, Criminal Complaint, Dubai, Fraud, Jumeirah Business Centre, Maktoum Hasher Maktoum | Tagged: , , , , , | 2 Comments »

United Arab Emirates Desert Fraud Storm

Posted by 7starsdubai on November 7, 2010


source

Millions drained from a bank account. Death threats in the desert. Investors duped.

A politically connected group of New York investors said all of this happened when they launched an insurance venture in Abu Dhabi, according to a startling lawsuit that has drawn attention to rising business fraud in the United Arab Emirates.

The investors are suing the government of Abu Dhabi, members of the royal family and other officials for bilking them out of millions and  threatening to kill an executive.

The UAE consulate in Washington didn’trespond to requests for comment.

Rep. Gary Ackerman, (D-NY), head of the House committee overseeing Middle East affairs, told The Post that he’s aware of the suit and numerous alleged scams in Abu Dhabi’s system.

“I’d liketo see Abu Dhabi and the United Arab Emirates be more responsible for protecting the interests of our investors and those from all over the world who try to invest there,” Ackerman said. “The emirates’ reputations are at stake here.”

Several New York political figures who lost money in the venture include: Jay Jacobs, chairman of the New York State Democratic Party; Bruce Blakeman, a GOP stalwart who ran in the recent US Senate primary here; and attorney Howard Fensterman, who served as a finance chairman for Sen. Chuck Schumer.

The suit said the group set up a $500 million insurance venture, American Gulf Insurance, at the behest of Abu Dhabi officials. After courting investors with lavish palace parties, royal family members supplied licenses and consultants to help the company through a $500 million public stock offering there set for September 2009, in exchange for IPO stakes.

Just ahead of the IPO, the group’s US executive, Azzam Rustom, said he discovered that $19million in an escrow account for the IPO had disappeared from an emirate-based bank through forged documents made by a military notary atthe office of a crown prince, Sheik Mohammed Bin Zayed Al Nahyan, according to court papers.

Rustom claims that after he complained to the government’s criminal investigation division, four menflashing badges abducted him from his home for a 12-hour terror-filled drive into the desert while threatening to chop off his head.

Accordingto the lawsuit, abductors warned, “You need to forget about this
situation, and if you don’t, you will find yourself in the desert with your head cut off, and in our country, no one will ever find you.”

With no local remedy at hand, investors went public with their claims in state court in Florida, where Rustom resides and runs a national insurance group, Gateway Insurance.

Posted in Al Nahyan Abu Dhabi, Crime, Fraud, Royal Family United Arab Emirates, UAE, US Court | Tagged: , , , , , , , , | Comments Off on United Arab Emirates Desert Fraud Storm

Dubai Investors appeal in property Fraud Case

Posted by 7starsdubai on July 20, 2010


source The National

DUBAI // Plaintiffs who claim they have been defrauded of more than Dh1.2 billion by a property developer have asked that the dismissed charges against the company be reinstated.

The 36 investors want the Dubai Court of Appeals to reopen the case against Dynasty Zarooni that public prosecutors had declared groundless. They claim that flawed investigations were conducted by prosecutors.

Two cases were filed by the plaintiffs last year against the company, its Indian chief executive Kabir Mulchandani, his Emirati business partner and managing director Hilal Zarooni  and the British executive R G.

The first case, which was referred to court, charged the men with setting up a bogus investment portfolio and defrauding investors of Dh893 million. The Dubai Court of Misdemeanours acquitted them on all charges on May 30.

The court reached its verdict after the defence presented documents that proved contractual agreements between the investors and Dynasty Zarooni. The documents showed that the investors had received more than Dh232 million in profits from their investments.

The second case alleged that Kabir Mulchandani and his co-defendants committed a property fraud by selling investors plots of land that did not exist. Prosecutors dismissed the case after reviewing a report by a property market expert they assigned to investigate the allegations.

Lawyers of the law firm representing the plaintiffs, Al Sha’ali & Co, told the appeals court yesterday that the second case had been dismissed illegally.

They claimed that prosecutors had combined unrelated police complaints filed against Dynasty Zarooni into one case and had failed to investigate the property fraud properly. The lawyers held that the escrow accounts registered to the company were not investigated and did not exist. They claimed contractors( Al Fajer Properties) presented by Dynasty Zarooni as the builders of their Ebony and Ivory towers testified under oath that they had not taken part in any construction projects with the company.

“Three contracting companies have testified to prosecutors that they only signed agreements with Dynasty Zarooni but have not conducted any business with them,” said lawyer Mohammed Safwat.

A separate case has been filed against the property expert who conducted the initial investigation, according to defence documents presented in court.

The documents allege that the expert had not conducted his evaluation properly and was legally bound to be prosecuted.

The court was also asked to present a different court-appointed expert to review the case.

The court will hear from the defence on July 22.

Posted in Al Fajer Properties, Al Shaali Advocates, Dubai Legal - Real Estate Lawsuits, Dynasty Zarooni, Fraud, Hilal Zarooni, Immobilienbetrug Dubai, Jumeirah Business Centre, Kabir Mulchandani, Sheikh Maktoum Hasher Maktoum Juma Al Maktoum-2 | Tagged: , , , , , , | Comments Off on Dubai Investors appeal in property Fraud Case

Fraudsters must be punished – Al Boom a Dubai property Tycon

Posted by 7starsdubai on June 12, 2010


original source 7Days ae
A Dubai property tycoon accused of stealing close to one billion dirhams from his investors spent the money on an extravagant lifestyle of fast cars, yachts and parties.

Abid Al Boom, the owner of Abid Al Boom Management and Development Properties, was a struggling businessman in 2004, driving around in a car worth just dhs30,000.But three years later, prosecutors allege, he was living a jet-set lifestyle with 53 high-end cars, a yacht and two boats on which he would throw parties for his friends and hold business meetings.He also splashed out on personalised number plates and gave generous donations to football clubs to boost his profile.The details of his spending spree emerged at Dubai Misdemeanors Court, where he is on trial for the ‘betrayal of trust’ of 3,700 investors. It is alleged he took nearly dhs900 million from them.
In his closing speech yesterday, Prosecutor Youni Hussain said Al Boom and his co-conspirators were “wolves in human form” who betrayed the trust of their investors.
Al Boom is accused of taking money from clients, telling them he would invest it in property. He offered them a guaranteed return, and even paid dividends initially.
But, in reality, prosecutors claim, he was blowing the money on a life of luxury.
“He spent the money for his own gain and to improve his social standing. He left victims helpless,” Hussain told the court. “In 2004, he owned one car by just before the scandal broke in 2007 he owned 53 fancy cars… From where did he get this money in just a  couple of years? Fraudster ‘must be punished’

“He bought those cars using the savings and cash of his victims. Some of them are now in jail because they had taken out a loan and gave the money to Al Boom. When they failed to repay the loan, they were sent to jail.Al Boom has hurt many families.”

Hussain told how the Emirati businessman spent tens of millions of dirhams on “polishing up his image and on parties”. “He was even donating money to football clubs and to the fans to make himself more popular,” Hussain added.

“Some prosecutors even trusted him and gave their money to him to invest it… Justice must be done and Al Boom must be punished for his acts.”
Al Boom has been charged with betrayal of trust and bouncing cheques.

HH Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, has previously issued a decree setting up a judicial committee to liquidate the assets of Al Boom. The committee is responsible for collecting the money and paying back the creditors.The case has been adjourned until June 27, when the defence will make its closing speech.

If convicted, Al Boom could be sentenced to up to two years in prison. However, he could remain in jail until he pays back all his victims.Prosecutors allege dhs900 million of investors’ money bought him…53 TOP-END CARS, A LUXURY YACHT, TWO ‘PARTY’ BOATS, PERSONALISED NUMBER PLATES.FRIENDS IN FOOTBALL…

Posted in Criminal Complaint, Dubai Legal - Real Estate Lawsuits, Fraud, Immobilien Betrug Dubai, Real Estate Scandal Dubai | Tagged: , | Comments Off on Fraudsters must be punished – Al Boom a Dubai property Tycon

Forbes: ‘Madoff Of The Mideast’ Denies Charges

Posted by 7starsdubai on January 15, 2009


original published Forbes 14-01-2009

http://www.forbes.com/facesinthenews/2009/01/14/mulchandani-zarooni-dubai-markets-face-cx_ll_0113autofacescan01.html

A representative of Kabir Mulchandani hits back at accusations of fraud.

As dozens of angry investors clamor for their money back from Dubai-based property mogul Kabir Mulchandani, whom they accuse of being a fraudster, the stage seems to be set for a Middle Eastern version of the Bernie Madoff scandal. But those close to Mulchandani are adamant that upcoming legal proceedings will clear his name.

Mulchandani has been detained by the authorities in Dubai since Friday, pending a bail hearing, following claims of fraud from around 15 to 20 clients. But a spokesman for his company, Dynasty Zarooni, told Forbes on Tuesday that the allegations were groundless, instead suggesting these investors were desperate to get their money back by any means in the face of mounting losses on the Dubai property market.

“All these charges are baseless,” said the spokesman, from the company’s offices in Dubai. “All those who have lost money on the real estate crash are trying to get out of their future commitments. In the due course of time, the truth will prevail.”

These investors reportedly claim to have lost more than $100 million to Mulchandani and his business partner, Hilal al-Zarooni. One client told The Times Of India that he had made payments on a supposedly half-completed building, only to later find that the actual site was still a hole in the ground.

According to Dynasty Zarooni, however, all the paperwork shows clearly which plots were sold to which client and that no attempt was made to disguise their state. The company did not develop the properties, instead buying and reselling planned projects from developers such as Al-Fajer Group, a well-respected name with links to Dubai’s ruling family. Clients made payments to Dynasty Zarooni as the projects were completed, the company said.

Dubai’s property boom has been deflating rapidly in the midst of the financial crisis, with projects getting delayed or canceled as financing dries up and prices plummet. Consultancy firm Colliers International said on Tuesday that Dubai house prices had fallen 8.0% over the last three months, the first quarterly decline witnessed in two years.

And just as Bernie Madoff was chewed up and spat out when the market went south, so Dubai is likely to throw up more white-collar executives with their reputation tarnished as the crisis bites. The question is whether the emirate’s opaque justice system will allow for true justice to be done: Zack Shahin, former chief executive of real-estate developer Deyaar, had reportedly still not been charged at the end of December after he was first arrested in March.

The Associated Press contributed to this article

Posted in Dubai Real Estate Scandal, Dynasty Zarooni, Ebony Ivory Towers Dubai, Fraud, Jumeirah Business Centre, Kabir Mulchandani, Maktoum Hasher Maktoum | Comments Off on Forbes: ‘Madoff Of The Mideast’ Denies Charges

 
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