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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…
    Monika on RERA – Dubai mulls cance…
    Ali Varahram 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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      EU-Gipfel in BrüsselTrotz des Minsker Friedensplans schwelt der Konflikt in der Ostukraine mit pro-russischen Separatisten weiter. Die EU-Staats-und Regierungschefs haben am Donnerstag die Wirtschaftssanktionen gegen Russland verlängert. Sie wollen Putin dazu bewegen, mehr Einfluss auf die Separatisten zu nehmen. Video Russland im Klammergriff Video Kein Fri […]
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Archive for the ‘Kabir Mulchandani’ Category

Kabir Mulchandani Marriage 2012 – Nadia Zaal new wife of Mulchandani

Posted by 7starsdubai on June 24, 2012


Kabir Mulchandani wedding – April 2012

Mulchandani married Nadia Zaal from Dubai

The celebration was held in the Niyama Resort Dhaalu Atoll of the Maldives April 2012. Nadia Zaal  and Kabir Mulchandani

 A Tweet from Lalit Modi ( who has over 500.ooo Foloower on Twitter)  said, Mulchandani changed his Relegion to marry Emirati Nadia Zaal.

Information from the WWW – original source see links

Links:

http://pics.lockerz.com/s/254389667

http://pics.lockerz.com/s/254391074

Kabir Mulchandani Nadia Zaal Wedding Video:

http://vimeo.com/42908711

Kabir & Nadia’s Preview Trailer from tangerine media group on Vimeo.

more Info about Kabir Mulchandani : Forbes  The Independent 

The Wall Street Journal

Business Wire

Wall Street Journal

Posted in Dubai wedding, Kabir Mulchandani | Tagged: , , , | Comments Off on Kabir Mulchandani Marriage 2012 – Nadia Zaal new wife of Mulchandani

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

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

Horror Szenarien eines Immobilienkaufs in Dubai – Al Fajer Properties – Betrug – Bedrohungen – Stalking – Pressefreiheit

Posted by 7starsdubai on June 4, 2010


Posted by 7starsdubai on 2010/06/04

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Horror Szenarien eines Immobilienkaufs in Dubai – Al Fajer Properties – Betrug und Psychoterror

March, 2010

Schilderung– Sachverhalt Massive Probleme seit dem Kauf eines Apartments in Dubai 2005 Nakheel – DMCC – Al Fajer Properties – Sheikh Maktoum Hasher Juma Al Maktoum

Meine Lebensgefährtin ( 48) und ich ( 78 Jahre) besuchten seit 1999 regelmäßig als Touristen Dubai.

Am 18. Oktober 2005 entscheiden wir uns für den Kauf eine Apartments bei der Firma Nakheel Dubai(zu dieser Zeit 100 % Government eigenes Unternehmen). Der Kaufabschluss findet direkt im Verkaufsbüro der Firma Nakheel statt. Mit dem Kauf bei der Regierungseigenen Firma glaubten wir auf der sicheren Seite zu sein. Diese Wohnung sollte ein Feriendomizil werden, um die letzten gemeinsamen Jahre in den Wintermonaten in der Sonne von Dubai verbringen zu können.

Der Kaufpreis für dieses 101 qm Apartment, im Falcon Tower, 100 % iges Wohngebäude ,40 Stockwerke, Baugebiet Jumeirah Lake Towers, Grundstück H3 beträgt 775.000 AED, das Fertigstellungsdatum sollte März 2008 sein.

Wir leisten hierzu vertragsgemäß die entsprechenden Zahlungen,so bis Juni 2006, 45 % des Kaufpreises ,348.750 AED.
Zur Wahrung der Rechtssicherheit in Dubai , haben wir seit April März 2006, den Rechtsanwalt ….. der Kanzlei Al Sharif Advocates, beauftragt uns in rechts sicherer Form bei der Ausführung von Korrespondenz entsprechend zu vertreten. Schon mit Nakheel treten seit November 2005 Probleme auf ( die uns zugesagten Vertragsunterlagen gehen uns nicht zu), wir werden jedoch zu den entsprechenden Teilzahlungen direkt an Nakheel aufgefordert.

Am 20. August 2006 erhalten wir ein Schreiben mit Datum 15. August 2006 von DMCC Dubai. (ebenso 100 % Government Dubai eigenes Unternehmen)

Hierin wird uns zur Kenntnis gegeben, dass das Bauvorhaben 100 % Wohnungsgebäude Falcon Tower sowie das gesamte Baugebiet Jumeirah Lake Towers von Nakheel an DMCC transferiert wurde und Nakheel mit Wirkung dieses Transfers zu DMCC auch nicht mehr Bauträger des Falcon Towers sei. Eine Mitteilung das das Bauproject Falcon Tower aufgehoben sei erfolgt nicht.

DMCC würde sich bemühen einen neuen Bauträger für den Falcon Tower zu finden, der idealer Weise ohne Änderung das Gebäude wie mit Nakheel im Ursprung vereinbart erstellen wird.

Mit Email vom 09. Oktober 2006 teilt uns DMCC mit, man habe einen neuen Bauträger gefunden.

Dieser würde nun den Falcon Tower von Nakheel wie im Ursprung im gleichen Design erstellen, konsequenterweise würde damit unserer Apartment mit den ursprünglichen Spezifikationen und Konditionen wie im Kaufabschluss mit Nakheel im Ursprung vom Oktober 2005 bestimmt, erstellt. Auch der Kaufpreis bleibt unverändert bei 775.000 AED. Lediglich das Fertigstellungsdatum verschiebe sich nun auf Dezember 2008.
DMCC offeriert uns zu diesem Bauträger zu transferieren, wolle uns den Namen des neuen Bauträgers in Kürze mitteilen.

Mit Schreiben vom 22.Oktober 2006 teilt uns DMCC mit, der neue Bauträger sei die Firma Al Fajer Properties, es handle sich um ein Unternehmen das in Dubai hohes Ansehen hat.

DMCC Dubai offeriert uns erneut zu den bereits am 09. Oktober 2006 genannten unveränderten Konditionen nunmehr zu Al Fajer Properties zu transferieren.

Wir informieren uns entsprechend unserer Möglichkeiten zu diesem Unternehmen und ermitteln das es sich bei Al Fajer Properties um ein zu der Unternehmens Gruppe Al Fajer Group, gegründet in 1965,gehörendes Unternehmen handelt. Als Inhaber der Al Fajer Group wird zu dieser Zeit Sheikh Hasher Juma Al Maktoum ausgewiesen. Man versichert uns das dies ein wirklich zuverlässiger Bauträger sei, der Inhaber der al Fajer Group  sei zudem der Schwager von Sheikh Mohammed bin Rashid Al Maktoum.

Nach Klärung weiterer Details, stimmen wir mit Fax vom 13. November 2006 unter nochmaliger Angabe der genauen Konditionen gegenüber DMCC, dem vorgeschlagenen Transfer Nakheel- DMCC- Al Fajer Properties zu.

Mit Email vom 15 November 2006 bestätigt DMCC unter Erwähnung unseres Fax vom 13. November diesen Transfer und gibt gleichzeitig an, das Al Fajer Properties einen entsprechenden Übernahmevertag mit uns zu dieser Vereinbarung fertigen wird . Wir sollten uns nun mit Al Fajer Properties direkt in Verbindung setzten. Unsere berits geleisten Zahlungen an Nakheel, in Höhe von 45 % dea Kaufpreises werden von DMCC an Al Fajer Proeprties überwiesen.
Mit ordentlichem Schreiben vom 08. Februar 2007 bestätigt DMCC, unterzeichnet von Ahmed bin Sulayem, nochmals den bereits am 15.November 2006 bestätigten Sachverhalt und Transfer zu Al Fajer Properties.
Zu der von DMCC abgegebenen Zusage, Al Fajer Properties würde die Vereinbarung schriftlich in Form eines ordentlichen Vertrages mit uns fixieren kommt es jedoch nicht.

Al Fajer Properties suggeriert uns seit Ende 2006 in mehrfach abgehaltenen Schriftverkehr bis Mitte Oktober 2007,mit stetig variierenden Ausreden, dieser zugesagten Vereinbarung nachzukommen, kommt dieser zivilrechtlichen vertraglichen Verpflichtung jedoch nicht nach.

Mit der Erwartung den zugesagten Vertrag wie vereinbart zu erhalten,besuchen mit festem Termin wir am 17.Oktober 2007 gemeinsam mit unserem Rechtsanwalt ……. das Büro von Al Fajer Properties,Emirates Towers Hotel, Level 6, Dubai.

Hierbei wird uns nicht wie zuvor suggeriert der zugesagte Vertrag präsentiert sondern vielmehr seitens des Geschäftführers von Al Fajer Properties, Dr. Shahram Zadeh der Vortrag geleistet, das Al Fajer nunmehr zu er Entscheidung gekommen sei ausschließlich Bürogebäude zu erstellen, das es wenig Sinn mache im Jumeirah Lake Towers Gebiet ein Apartment zu haben. Wir sollten dies einsehen und aus dem Vertrag aussteigen. Eine Kompensation, die uns für den Verlust entschädigt uns in die Lage versetzt ein adäquates Apartment zu erwerben, wolle er uns nicht leisten – lediglich eine 25 % Verzinsung auf die bereits gezahlten 45 % von 775.000 AED. So wir jedoch auf unsere Apartment bestehen würden , wird Al Fajer in dieses Bürogebäude auf dem Grundstück H3 lediglich 1 bis 2 Etagen Wohnungen im 13. und 14. Stockwerk vorsehen, da ein Investor ebenso beharrlich sei wie wir und nicht einsehen wolle dass das beharren auf eine einstige vertragliche Vereinbarung von Nakheel keinen Sinn mache. Nicht nur diese völlig weltfremde Ausführung ( 1-2 Etagen Wohnungen in einem ansonsten 100%igen Bürogebäude) lässt uns aufhorchen sondern weitere Ausführungen weisen eindeutig darauf hin, das der gesamte Vortrag auf Zermürbung ausgerichtet ist um uns zur Aufgabe und damit zur freiwilligen Entlassung von Al Fajer aus seiner vertraglichen Verpflichtung aus unserer und derer Vereinbarung von DMCC zu zwingen.Das Fertigstellungsdatum verschiebe sich zudem auf Mitte 2010,auch das sollten wir bedenken sei doch unkomfortable.

Einen Grund warum all dem nun auf einmal so sei bekommen wir nicht genannt.
Allerdings habe Al Fajer Properties bereits einen Vertragsentwurf gefertigt, den wir studieren sollen und entsprechend unsere Entscheidung treffen sollen.

Wir sind schockiert. Bis zu diesem von uns erbetenen Termin wurde uns seitens Al Fajer Properties schriftlich suggeriert alles sei wie vereinbart.
Noch während dieses Gespräches stellen wir bei Betrachtung dieses sogenannten Vertragswerkes fest, das dieses keinerlei Spezifikation(keinen Grundriss der Wohnung, keine Flächenangabe der Wohnung, keine Angaben über die Ausstattung, keine Gebäude Konstitution …. sondern nur blanco Positionen enthält…..der Vertag beeinhaltete noch nicht einmal die Definition des Developers Al Fajer Properties, usw , sondern vielmehr ein purer Allgemeiner Entwurf , zudem voller haarsträubender Bedingungen. Wir monieren diesen Sachverhalt noch Vorort und erhalten die Zusage man würde uns die fehlenden Ausführungen unserem Anwalt per Fax sofort am Namittag des 17.Oktober 2007 zukommen lassen.

Diese Zusage wird von Al Fajer Properties in keiner Form eingehalten obwohl wir seit dem 18. Oktober 2008, auch seitens unseres Anwalts……….., Al Fajer Properties hierzu mehrfach schriftlich auffordern.

Nachdem wir zudem mit mehrern Schreiben nun Al Fajer Properties darum bitten einen Kontennachweis für die von uns bereits gezahlten 45 % zu erbringen, wird die gesamte Angelegenheit weiter suspekt.

Mit Email Al Fajer Properties vom 31.Januar 2008, eskaliert die Angelegenheit.

Diese Email enthält im Anhang eine offensichtlich gefälschte Email, die uns laut Aussage innerhalb der Email 31.Januar 2008, am 17.Januar 2008 erreicht haben soll. Diese Email hatten wir nie erhalten,

Unter Bezug auf diese gefälschte Email fordert man uns auf, das uns am 17.Oktober 2008 übergebene blanco Vertragswerk zu unterzeichnen und zuzustimmen, fordert dieses binnen einer Frist von 7 Tagen zu vollziehen, ansonsten würde man uns alle Rechte entziehen und uns lediglich die seit Oktober 2005 gezahlten 45% ohne Zinsen zurückzahlen.
Wir reagieren sofort, wollen eine begründete Zurückweisung via Email an Al Fajer ergehen lassen. Dieses scheitert jedoch, da nun alle Emails von uns, seitens des Servers Al Fajer abgewiesen werden und wir nur rückschließen können, das durch Sperren unserer Adresse auf dem Server, uns dieser Kommunikationsweg verwährt wird.
Daraufhin senden wir am 01.Februar 2008 ein Fax sowie eine Schreiben via Courier DHL an den Geschäftsführer Shahram Zadeh, Al Fajer Properties
In diesem Schreiben geben wir klar bekannt, das wir in keinem Fall der Forderung nachkommen werden einem Blanco Vertragswerk zuzustimmen da es sich bei dem sogenannten Vertrag nach wie vor um ein Blankodokument handle – die entsprechend von uns angeforderten Dokumente ( Grundrisse ect nicht zugesandt wurden usw..) wir derartigen Erpressungsversuchen keine Folge leisten würden.

Ebenso setzten wir Al Fajer Properties in Kenntnis, das wir den Vorgang an die RERA Dubai melden würden, so wir keine korrigierende Reaktion erhalten würden.

Da uns keine weitere Korrespondenz von Al Fajer seit diesem Moment erreicht, senden wir auf Anraten unseres Anwaltes am 05. März ein ausführliches Schreiben inkl. Anhang aller relevanten Dokumente, an die RERA Dubai, Juma Al Maktoum.

Bereits am 10. März 2008, erhält unser Anwalt , ein Schreiben des Anwalts Michael Kerr, des Büros Denton Wilde Sapte Dubai.
Es wird bekanntgegeben das Michael Kerr Denton Wilde Sapte Al Fajer Properties vertritt. Eine Vollmacht wird nicht präsentiert und auch im späteren Verlauf als wir diese mehrfach anfragen verweigert vorzulegen.

Im Schreiben selbst wird dann erneut die Forderung vom 31.01.2008 und damit die Erpressung wiederholt: Wir sollen das angebliche Vertragswerk (Blanco) unterzeichnen , dies binnen 3 Tagen , oder so dies nicht geschehe würden uns alle Rechte entzogen.
Die bereits am 31. Januar 2008 und von uns als unzulässige Forderung zurückgewiesene Erpressung seitens Al Fajer Properties, lebt nun mir diesem Schreiben von Denton Wilde Sapte wieder auf.
Am 11.März.2008 weist unser Anwalt diese erneute Erpressung energisch mit Schreiben an Denton Wilde Sapte zurück, verweist und fügt das gesamte an die RERA ergangene Schreiben bei. Merkt an, der Sachverhalt befinde sich zur Klärung bei der Regierungsbehörde RERA, daher sei deren Klärung abzuwarten und nicht auf diese Weise erneut zu verfahren.
Dieser Sachverhalt (RERA) wird seitens Al Fajer Properties ignoriert, so mit dem Versuch am 18. März 2008 unserem Anwalt in Dubai per Boten ein Schreiben zuzustellen,…………….. was jedoch scheitert.
Noch am selben Tag beschwert sich Denton Wilde Sapte schriftlich über diesen Sachverhalt( wir erhalten diese Mitteilung per Email in Deutschland) und fügt in Kopie den Inhalt seines vorherigen Schreibens bei, inklusive der Kopie eines Barschecks Ausstellungshöhe 348.750 AED = 45 % der Gesamtkaufsumme 775.00 AED ,unserer seit Oktober 2005 an Nakheel gezahlten Gelder.

Unser Anwalt von Al Sharif Advocates wird aufgefordert diesen Scheck durch erneute Zustellung anzunehmen, so dies nicht geschehe würde man die Kündigung incl. des Schecks direkt an …… in Deutschland schicken. Dies geschieht jedoch im Folgenden nicht wie angedroht. Diese Korrepondenz seitens Denton Wilde Sapte endete am 31. März 2008.

Weder wir noch unser Anwalt reagieren auf diese erneute und nunmehr mittels Scheck vollzogene Form der Erpressung.
Seit dem letzten Schreiben 31. März 2008 ( Denton Wilde Sapte)zu diesem Vorfall, hören wir nichts mehr von Al Fajer Properties, auch nicht von Denton Wilde Sapte.
Wir gehen zu diesem Zeitpunkt davon aus, das der Auftrag seitens Al Fajer Properties an Denton Wilde Sapte, für diese Schreiben im März, durch den Geschäftsführer von Al Fajer Properties Dr.Shahram Zadeh ergangen ist, da dieser wie schon mit Email vom 31.Januar 2008 mutmaßlicher Initiator dieser unrechtmäßigen Vorgehensweise war.

Diese Annahme, Shahram Zadeh, stecke auch hier im März 2008 als Initiator dahinter, wir sich später als falsch herausstellen, da wir im März 2009 durch die Presse ( Wall Street Journal) erfahren, das Dr. Shahram Zadeh  am 21. Februar 2008  in Dubai unrechtmäßig inhaftiert wurde und erst nach 60 Tagen wieder frei kam.

Aus diesem Bericht des Wall Street Journals ist zu lesen, das Shahram Zadeh Eigentümer von Al Fajer Properties war, jedoch nach die Firma unrechtmäßig während der Inhaftierung von shahram Zadeh von Sheikh Hasher Maktoum übernommen worde, das Shahram Zadeh schlichweg von Sheikh Hasher Maktoum bin Juma Al Maktoum und dessen Sohn enteignet wurde.

In dem Zeitraum Febraur bis April 2008 als Zadeh inhaftiert war, wurden alle Rechte der Firma Al Fajer Properties auf Sheikh Hasher Maktoum und deren Tochter übertragen. Gleichzeitig wurde der Sohn Sheikh Maktoum Hasher Maktoum Al Maktoum bereits am 6. März 2009 zum Präsidenten von Al Fajer Properties ernannt. Die Geschäftsführer Ernennung an ihn durch den Vater erfolgte in gleichem Zeitrahmen.

Zudem stellt sich später ( erste Berichte bereits Mitte August 2008) durch das Aufkommen des Betrugsfalls „ EBONY IVORY „Dynasty Zarooni heraus, das Al Fajer Properties am 31. März 2008 das gesamte Gebäude( Jumeirah Business Centre 8+9)auf dem Grundstück H3 und G3 Jumeirah Lake Towers, als Bürogebäude zu einem sft Preis von 2050 AED verkauft hat. Die Verträge wurden nachweislich am 31.März 2008 von beiden Parteien (Kabir Mulchandani Dynasty Zarooni und Al Fajer Properties Maktoum Hasher Maktoum Al Maktoum unterzeichnet. ( Beweismittel liegt inzwischen in Kopie des Original Vertragswerkes Al Fajer – Dynasty Zarooni vor)

Noch am 18. März 2008 wollte Al Fajer Properties uns dazu zwingen einen Blanco Vertrag in einem sogenannten Residential Mix Gebäude Jumeirah Business Centre 8 zu unterzeichnen, obgleich Al Fajer Properties hierbereits in der Kenntnis war, das es ein solches Gebäude nie geben würde ( keine Wohnungen – lediglich Büros ( 100 % Commercial ) und das der Verkauf an Dynasty Zarooni bereits eingeleitet war!!!!!!!

Somit steht fest, wie Sie im weiteren Verlauf sehen werden, das diese erpresserische Aktion März 2008 seitens Denton Wilde Sapte für Al Fajer Properties von Sheikh Maktoum Hasher Juma Al Maktoum gegen uns veranlasst wurde und nicht von Shahram Abdullah Zadeh ( wie uns versucht wurde zu suggerieren) , um den Weg für den Deal mit Dynasty Zarooni frei zu bekommen.

Die RERA Dubai wurde von uns auch über die jetzt vollzogene Erpressung, März 2008, in Kenntnis gesetzt.

Eine Bestätigung der RERA Dubai über den Erhalt unser Schreiben von 5. März sowie die bis zum 31.März 2008 erfolgten Aktionen von Denton Wilde Sapte , erhalten wir am 03.April 2008, von Marwan bin Ghalita, CEO RERA Dubai. Diese Eingangsbestätigung enthält das Zitat:

„ Life ends when you Stop dreaming, hope ends when you Stop believing. The future belongs to those who believe in the beauty of their dreams” Eloanor Roosevelt

Inzwischen haben wir uns ausführlich mit Presseberichten zu diversen Themen bzgl. derartiger Vorkommnisse in Dubai informiert.

Hierüber gelangen wir auch zu der Information, das Al Fajer Properties bereits mit Mitte März 2008 , 3 komplette Bauvorhaben im Jumeirah Lakes Tower Gebiet ( auch das Grundstück H3,auf welchem unser Apartment errichtet werden sollte) komplett an Dynasty Zarooni verkauft hat.

( Inzwischen liegen uns zur Beweisführung die original Unterlagen in Kopie dieser Verträge vor. Die wurden mit Datum des 31. März 2008 als sogenanntes Momorandum of Understanding ratifiziert. Unterzeichner der Verträge: Dynasty Zarooni Kabir Mulchandani und Al Fajer Properties sheikh Maktoum Hasher bin Juma Al Maktoum )

Alle 3 Tower sind zudem nunmehr umbenannt. Von zuvor Jumeirah Business Centre7,8 und 9 nun in Ebony Tower (JBC9)Plot H3, Ivory 1 Tower ( JBC8) Plot G3 und Ivory 2 ( Plot H1)

Zudem sind alle Gebäude nun 100 % Bürogebäude. Es gibt in diesem Gebäuden gar keine Apartments , geschweige denn handelt es sich um ein Wohngebäude.
Wir recherchieren entsprechend, lassen uns über eine andere Adresse neue Prospekte und Preise zu kommen, bekommen diese Aussage bestätigt.

Damit ist für uns klar, was der Hintergrund der erneuten Erpressung seitens Al Fajer Properties im März 2008 war. Nunmehr ist auch der Tatbestand des Betrugs erfüllt.

Mit Fax vom Juni 2008 wenden wir uns erneut an Al Fajer Properties und geben einen Bruchteil unserer neu gewonnen Erkenntnisse bekannt, weisen erneut die im März ausgesprochenen Kündigungen zurück und fordern zur Kompensation in voller Höhe auf. Die Kompensation wird klar benannt:

Sie lautet in Höhe wie schon im Schreiben an die RERA Dubai vom März 2008 vorliegend. Bei Nichtreaktion weisen wir darauf hin, den Vorgang zu Gericht zu geben.
Kurz darauf ( Juni 2008) erreicht unseren Anwalt von Al Sharif Advocates ein Anruf von Michael Kerr Denton Wilde Sapte. Dieser sagt, das nunmehr Sheikh Maktoum Hasher Maktoum Geschäftsführer sei, dieser die Angelegeheit jetzt persönlich im Einvernehmen mit uns regeln wolle. Es wird signalisiert die entsprechende Kompensation leisten zu wollen.

Wenig später wird jedoch nur eine Kompensation von der nochmaligen Summe unserer 45% offeriert ( 348.750 AED)
Wir beharren darauf die Verhandlung nicht mündlich führen zu wollen sondern schriftlich.
Wir machen nochmals klar, das uns diese Offerte einen Schaden von, zu diesem Zeitpunkt, über 1 Million AED erzeugt ( ein adäquates Apartment kostet inwzischen ca. 1,8 Mio AED) und fordern nochmals dazu auf uns eine Kompensation in der Höhe zu leisten die uns in die Lage versetzt ein adäquates Apartment zu erwerben.

DentonWilde Sapte, RA Michael Kerr gibt an, sich mit Maktoum Hasher Al Maktoum zu besprechen, will weiter verhandeln und signalisiert sich in Kürze zu melden. So geschehen im Juni 2008.
Bis zum 08.September 2008 hören wir jedoch nichts mehr von Al Fajer oder Denton Wilde Sapte.

Mit erneuten Ferienaufenthalt in Dubai, senden wir am 08.September 2008 eine Email an RA Michael Kerr, Denton Wilde Sapte, und erinnern an seine Zusage sich zu melden. Wir vollziehen dies selbst, da unser RA angab sich erst ab 15. September wieder in Dubai zu befinden.

Hierauf erfolgt seitens M. Kerr eine sofortige Reaktion per Email am 08.September 2008 mit Ausreden warum er such nicht gemeldet habe,signalisiert aber die Angelegenheit Kompensation nun entsprechend nach Rücksprache mit Maktoum Hasher Maktoum regeln zu wollen.
Kerr wendet sich dann nicht mehr an uns, sondern an unseren Anwalt.
Unser RA  stellt unsere Kompensationsvorstellung nochmals begründet klar dar, nun auch unter dem weiteren Aspekt der inzwischen erneut gestiegenen Immobilienpreise ( ein adäquates 100 qm Apartment kosten mittlerweile im besagtem Gebiet bis zu 2,4 Million AED)

Das Kompensationsangebot seitens Al Fajer Properties was uns nunmehr ergeht, beläuft sich nun auf 651.250 AED , wird aber verklausuliert als 1 Million AED dargestellt.

Dieses Angebot , hätten wir es angenommen, hätte uns zu diesem Zeitpunkt September 2008 erneut einen Schaden von nahezu 1 Million AED zugeführt. Al Fajer selbst hatte nachweislich die benannte Fläche 1098 sft bereits am 31.März 2008 zu einem Preis von 2050 AED an Dynasty Zarooni verkauft, sich somit im Gegensatz uns diese Fläche für 775.000 AED Ende März 2008 wie vereinbart zu liefern, um mehr als 1,25 MIO AED bereichert.

Da wir inzwischen auch in der Kenntnis waren, zu welchem Preis Al Fajer die Flächen im Gebäude auf dem Grundstück H3 am Markt als Büros offeriert ( bis zu 2140 AED pro sqft), war auch bewiesen das sich Al Fajer sich einen Vorteil von bis zu 1429 AED pro sqft. durch den unrechtmäßigen Entzug unserer Rechte vollzogen und erwirkt hat.

Will heißen: Al Fajer erzielt zu diesem Zeitpunkt einen Mehrertrag von 1,55 Million AED, entgegen der mit DMCC und uns zu Al Fajer nach wievor gültigen Vereinbarung.

Wir sahen dieses letzte Angebot, lediglich 651.250 AED Kompensation zu wollen unter den gegebenen wahren Sachverhalten (Betrug) als erneute Provokation an, lassen unseren RA hierzu am 18. Sep. 2008 Stellung nehmen und stellen erneut und wiederholt klar, wie die Kompensationsforderung unsererseits lautet.

Erst am 29. September 2008, einen Tag vor unserer Abreise, erhalten wir Antwort. Diese bringt zum Ausdruck das Maktoum Hasher Maktoum Al Maktoum sehr enttäuscht sei über unser ablehnendes Verhalten zu diesem doch großzügigen Angebot von His Highness sheikh Maktoum bin Hasher Al Maktoum. Nun wird erneut seitens Al Fajer Properties Druck gemacht. Wir sollten innerhalb von 7 Tagen dieses Angebot ( 651.250 AED) annehmen, wenn nicht, würden uns lediglich unsere 45 % ( 348.750 AED) gezahlt.

Wir betrachten dies als erneute Erpressung und verlassen entsprechend enttäuscht und niedergeschlagen Dubai am folgenden Tag.

Wir möchten zu diesem letzten 4wöchigen Aufenthalt im September 2008 in Dubai auch anmerken, das wir während der gesamten Zeit, in teilweise kurioser Weise, observiert wurden, was bei keinem unserer vorherigen Aufenthalte in Dubai jemals der Fall war. Dies ging bis dahin, das wir früh bemerkten, das unsere Telefonate abgehört wurden, unser Zimmer offensichtlich von nicht zum Personal gehörenden Personen betreten wurde und vieles mehr….. ( die Vorkommnisse wurden der Staatsanwaltschaft in Deutschland zu Kenntnis gegeben.

Selbst am Tag der Abreise wurden wir von 2 Personen vom Check IN bis zum Boarding von 2 Personen verfolgt und observiert. Beide Personen gingen dann jedoch nicht mit an Board. Aufgrund dieser Vorkommnisse hat uns der gesamte Aufenthalt entsprechende Aufmerksamkeit und Vorsicht abgefordert –was entsprechend Angst auslöste – womit wir mit Abflug in Dubai froh waren, bald wieder deutschen Boden unter den Füßen zu haben.

Weiter zum Sachverhalt Kompensation:

Zurück in Deutschland bitten wir unseren Anwalt auf das letzte Schreiben des M. Kerr DWS zu reagieren. Unser Anwalt ist nicht erreichbar. Somit werden wir in die Situation versetzt selbst zu antworten, was wir am 01.Oktober 2008 tun.
Am 06.Oktober 2008 erreicht uns eine Email von Michael Kerr, Denton Wilde Sapte, in welcher nunmehr massive Angriffe und erneute Drohungen ausgesprochen werden. Dieses Schreiben beinhaltet auch massive Drohungen für den Fall das wir die Presse und Journalisten zu unserem Fall informieren. Es wird angemerkt, das wir dieses ja bereits schon im März 2008 versucht hätten, dies habe Al Fajer Properties sehr verärgert. Auch die RERA würde nichts unternhemen und ein Gericht in Dubai eine Klage gegen Al Fajer Properties nicht annehmen. Darüber sollten wir uns im Klaren sein. Die Korrepondenz sei damit beendet.

Bis Januar 2009 versuchen wir vergeblich mit mehreren Schreiben eine Klärung mit Al Fajer oder DWS zu erlangen, erfolglos. Wir fordern Denton Wilde Sapte erneut mehrmals auf eine Anwaltliche Vertretungsvolmacht vorzulegen – diese wird seitens Denton Wilde Sapte verweigert.

Al Fajer Properties und Deton Wilde Sapte antwortet nicht mehr. Unser Geld wird jedoch weiter einbehalten.

Die Anwälte Denton Wilde Sapte sowie Al Fajer Properties sheikh Maktoum Hasher Al Maktoum  verweigern die Vorlage einer Handlungsvollmacht oder einen entsprechenden Legitimationsnachweis für die Geschäftshandlung ( Vertragskündigung) die Sie im März 2008 durchgeführt haben.

Im Januar 2009 werden zudem erste Pressemeldungen laut, das der Geschäftsführer des Partners von Al Fajer Properties,, Kabir Mulchandani DynastyZarooni, wegen Betrugsverdacht( auch bezogen auf die Bauvorhaben Grundstück H3, G3 und H1) von Al Fajer Properties, in Dubai verhaftet wurde. Gleichzeitig wird bekannt das bereits mehr als 30 Investoren ( Projekt Al Fajer Properties H3, G3 + H1) Strafanzeige gegen Dynasty Zarooni und auch gegen Al Fajer Properties erstattet haben sollen.
Wir informieren uns zu den Details und bitten per Email Anfang Januar 2009 ……………………………

März 2009 wird durch die Presse ( Wall Street Journal) bekannt, das der Geschäftsführervon Al Fajer Properties , Shahram Zadeh, bereits Februar 2008 in Dubai von der Staats Sicherheit inhaftiert wurde.

Hier werden auch Folterungen und Erpressung beschrieben, die Zadeh während der Inhaftierung widerfahren ist. Zadeh selbt gibt an, Hasher Maktoum  Al Maktoum habe diesen Akt der Inhaftierung gegen Ihn veranlasst.

Zadeh selbst habe zuvor Strafanzeige gegen Hasher Maktoum, dessen Sohn und Tochter wegen Unregelmäßigkeiten innerhalb von Al Fajer Propertiesgestellt.Maktoum Hasher und sein Vater hätten daraufhin dafür gesorgt ihn inhaftieren zu lassen.

Innerhalb dieses Berichtes kommt zum ersten Mal zu Tage, das der Inhaber von AlFajer Properties nicht Maktoum Hasher Juma Al Maktoum sein soll,sondern vielmehr Dr. Shahram Abdullah Zadeh.

Es wird weiter in der Presse berichtet, das Maktoum Hasher Juma Al Maktoum und sein Vater Hasher Juma AL Maktoum, sich während derInhaftierung von Dr. Zadeh, bereits im März 2008 das Unternehmen AL Fajer Properties unrechtmäßig angeeignet haben sollen.

Nach Entlassung aus der 60-tägigen Haft, Ende April 2008, wurde der Pass von Dr. Zadeh bis heute einbehalten .

Eine Strafanzeige von Shahram Abdullah Zadeh gegen Sheikh Maktoum Hasher al Maktoum und dessen Tochter sowie den Sohn Sheikh Maktoum Hasher al Maktoum wird von der Staatsanwaltschaft in Dubai zurückgewiesen.

Shahram Abdullah Zadeh führt daher derzeit eine Zivil Klage gegen Maktoum Hasher Juma Al Maktoum,dessen Vater und Schwester wegen Veruntreuung. Streitwert: 1,9Milliarden US Dollar, wird seit dem weiterhin seitens al Fajer Properties und Maktoum Hasher Juma Al Maktoummassiv unter Druck gesetzt.

Seit Veröffentlichung des Wall Street Journals Berichtes März 2009, über die Inhaftierung Zadeh`s versucht Maktoum Hasher Juma Al Maktoum, über eine PR Agentur und Business Wire, in regelmäßigen Abständen die Presse mit Geschichten bzgl. des Baufortschritts der Projekte von Al Fajer Properties zu versorgen.
Dies wohl auch um die Negativmeldungen in der Internationalen Presse, bzgl. des Gerichtsprozesses Zadeh als auch der weiteren Klagen gegen Al Fajer Properties und Dynasty Zarooni von Investoren aus dem Al Fajer Ebony Ivory (Jumeirah Business Centre Grundstücke H1, H3, G3) Projekt in Verbindung mit strafrechtlicher Verfoglung auch gegen Dynasty Zarooni zu kaschieren.

Die Presse in UAE und Dubai musste sich verpflichten nicht zu den Verhaftungen und laufenden Prozessen in Sachen Al Fajer, berichten. Journalisten des Wall Street Journals, Financial Times, Zawya DowJones, Forbes, The Independent, The Guardian und andere übernahmen entsprechend diese Berichterstattung.

Alle zu diesem Fall „Skandal Al Fajer Properties Dynasty Zarooni“ berichtenden Journalisten, wurden inzwischen mit Hinweisen bedacht, dieses zu unterlassen – agieren daher inzwischen berichterstattend zu diesem Fall gar nicht mehr oder unter Pseudonym. ( So ein ausführlicher Bericht von The Independent)

Mittlerweile haben sich die betroffenen internationalen Investoren ( über 400) in Sachen Al Fajer Properties Dynasty Zarooni( Grundsstück H3 – G3 und H1) zu einer Gruppe zusammengefunden, einige haben bereits Klage eingereicht, da der Weg einer gütlichen Einigung auch hier scheiterte.

Bei all diesen Investoren handelt es sich um Käufer von Büroeinheiten der Tower Ebony ( Plot H3) und Ivory Towers ( Plot H1 + G3) die nach der Ernennung von Maktoum Hasher Maktoum im März 2008 zum Geschäftsführen AL Fajer Properties, diese Einheiten direkt bei Al Fajer oder Dynasty Zarooni nach dem 31. März 2008 gekauft haben.

Auch diese 400 Investoren, der erst nach dem 01. April 2008 kauften, wurden auf kuriose Weise von Al Fajer oder aber mit dessen Partner Dynasty Zarooni betrogen bzw. fühlen sich betrogen.

Im Mai 2009 wurde von diesen 400 Investoren eine Petition mit mehr als 500 Unterschriften verfasst und an die RERA Dubai zur Weiterleitung an das Government Dubai übergeben.
Eine von der Investorengruppe Ebony Ivory einberufene Pressekonferenz im Madinat Jumeirah Dubai wurde jedoch mutmaßlich durch Maktoum Hasher Juma Maktoum , unter zur Hilfenahme eines lokalen Netzwerkes , rigoros aufgelöst ( Bericht The Independent) Selbst eine danach folgende private Journalisten Versammlung in einem anderen Hotel wurde mit entsprechend drohenden Hinweisen aufgelöst. Der lokale Dubai City7 TV Sender brachte dennoch einen Beitrag zu diesem Vorgang – wurde aber wenige Tage später ebenso , gemäß Berichte der Investoren unter Druck gesetzt. Ein zunächst verfügbares Video über diesen TV Bericht wurde aus dem Internet genommen.
Die Internationale Presse sah sich jedoch nicht veranlasst dies hinzunehmen und berichtete auch zu diesem Vorgang (Verweis The Independent)

Nach diesem Vorfall sahen sich die bertoffenen Investoren nur noch in der Lage, die Situation klar über den Weg einer Presseagentur und über Business Wire im Verteiler weiter an die Öffentlichkeit und Presse zu geben.

Im späteren Verlauf nahme sich Mitte Juli 2009 ein Journalist der BBC mit Interviews betroffener Käufer und Invetsoren sowie ehemaliger Mitarbeiter beider benannter Firmen der Angelegenheit erneut an. Schon bald sollte sich herausstellen das während dieser Zeit der Recherche und Interviews die betreffenden Telefonate sowie der Schriftverkehr abgehört und abgefangen wurden. Der Bericht der BBC kam nicht zustande.

Im August 2009 erschien ein Blog der sich dubai9stars nannte und der das Erscheinungsbild von dubai7stars und 7starsdubai 1:1 kopiert hatte. Das Resultat eines Sabotageangriffs auf den Rechner von dubai7stars im Juni 2009 ? Schon bald war erkennbar, das dieser kopierte Blog nur eines im Sinn führte: Man wollte diesen Blog als Hetzkampagne gegen die Investoren sowie offensichtlich gegen Shahram Zadeh verwenden.

Diese Annahme fand seine Bestätigung mit einer Veröffentlichung in dieses Blog vom 29 Dezember 2009. Aus diesem hier veröffentlichten Darstellung ist auch ersichtlich wie die genannten Personen observiert und verfolgt wurden, dieser Bericht bestätigt auch zu einem Teil das Abhören von Telefongesprächen und weiteren strafrechtlich relevanten Vorgehen dieser Blog Betreiber und dem dahinter steckenden Auftraggeber.

Wie sehr die bertoffenen Personen ( Zadeh , seine ehemalige Sekretärin Leigh Jones sowie auch der Sprecher der Investorengruppe Moses Oye) verfolgt und bedroht wurden kommt klar zum Ausdruck. Wer hieran ein massives Interesse hat steht für die Betroffenen außer Frage, somit auch der Auftraggeber für diesen Blog dubai9stars. Die Behauptungen Zadeh habe den Blog dubai7stars käuflich erworben und für seine Zwecke instrumentalisiert tauchen immer wieder auf.  Sie sind falsch.

Der letzte Satz in diesem Artikel des 29. Dezember 2009, deutet darauf hin, wie weit gediehen das kriminelle Potential des Auftraggebers ist. …… werden doch alle jemals mit Zadeh in diesem Zusammenhang stehende Personen das gleiche schmerzhafte Schicksal erleiden.

Wie sagte doch Zadeh schon in dem Artikel mit dem Wal Street Journal: Sie haben mir während meiner Inhaftierung gesagt: Wenn ich nicht kooperiere werden Sie mich ruinieren !

Nunmehr wird diese Drohung über diesen Blog an weitere Personen ausgeweitet.

Glaubt man dem Bericht auf dubai9stars, so ist Zadeh in die Tschechei geflohen, Leight Jones in den Lebanon geflohen.

Doch dem nicht genug, reicht Maktoum Hasher Maktoum im November 2009 eine Klage vor einem US Gericht gegen Internet Blogs ein.  Unter dem Vorwand “Trademarkverletzungen” versucht er nun über diverse Subpoena an Provider an weitere sensible Daten von Personen zu gelangen. Er gibt an nicht über die physikalische Adresse der Blogbetreiber in Kenntnis zu sein, was zumindest zu diesem Zeitpunkt in einem Fall nicht stimmt. Damit täuscht er das US Gericht und den Provider dieses Blogs. Ferner verweist seine Klage keinerlei Hinweis das sämtliche Artikel der Blogs, 1:1 Wiedergaben aus Artikeln von US Amerikanischen Journalen wie Forbes, Wall Street Journal u.a. sind.

Ein weiteres pikantes Detail zu der Klage Einreichung vor dem US Gericht fällt ebenso auf. Bereits in 2008 hatte sein Geschäftsfreund in Sachen Jumeirah Business Centre ( Ebony Ivory Towers Jumeirah Lake Towers), Kabir Mulchandani, über eben jene Anwälte ( Winston Strawn) bereits das gleiche Spiel betrieben !!! Beide Klageschriften lesen sich – als seinen dies Zwillingsbrüder – so jedenfalls hinichtlich der Leiden und der beachtlichen Schadenshöhen die hier benannt werden.

Kein Interessenskonflikt den die Anwälte hier hätten haben müssen ?

Inzwischen wurden diverse Behörden und Institutionen über dieses Vorgehen und die Hintergründe informiert.

Der Stattsanwaltschaft in Deuschland liegen diese Dokumente vor.

Mit falschen Verdächtigungen und unbeschreiblich fortwährenden mutmaßlich von dieser Seite veranlassten Stalking Methoden ( psycho Terror in diveren Formen) seit Mitte 2009 setzt Maktoum Hasher seinen Weg auch gegen uns fort, insbesondere seit dem Zeitpunkt Mitte 2009, da wir Strafanzeige gegen Sheikh Maktoum Hasher Maktoum Juma Al Maktoum erstattet haben, nachdem alle Bemühungen mit diesem Mann zu einer gütlichen Einigung zu kommen gescheitert sind – in weiteren Erpressungsversuchen endeten.

Als Folge dieser Strafanzeige, betreibt Sheikh Maktoum Hasher nunmehr mit unglaublich Ausführungen in der Klageeinreichung vor einem US Gericht ( falschen Verdächtigungen, falschen Kollobarativen Ereignis Darstellungen in Zusammenhang mit der Internationalen Presse, Verfolgung anderer Personen wie Moses Oye , Shahram Zadeh u.a., sowie anderen exorbitanten nicht nachvollziebaren Größenaordnungen zum Ausdruck gebrachten Forderungen) über einen US Anwalt gegen Deutsche Staatsbürger , erweitert strafrechtlich Relevante Handlungen mit falschen Aussagen , die Lebens – und Existensvernichtende Formen angenommen haben.

Besonders bemerkenswert ist im Gesamtzusammenhang  in dieser Klageschrift zu lesen, er habe mentalen Stress durch diese Blogs erlitten !!!!!!!

Bemerkenswerter Weise findet die Klageschrift all jene Vorgehen wider, die seitens des Kägers Maktoum Hasher  zuvor gegen die betroffenen Stalking Opfer betrieben wurden und werden nun als eigenes mentales Leiden zum Ausdruck gebracht.

Unter Vortäuschung falscher Tatsachen vor einem US Gericht, betreibt er nun die Identitätssuche nach Personen die diverse Blogs Anfang 2009 eröffnet hatten, bringt jedoch durch anwaltliche Schreiben ( nun aus San Francisco) zu Ausdruck, das Zadeh für ihn der Hauptverdächtige sei und und inkludiert wilde weitere kolloborative Verdächtigungen. auch entsprechende Erpressungen sind in diesen Anwaltsschreiben natürlich wieder inkludiert. ( so kann er sich auf einmal an dies und jenes nicht mehr erinnern … fügt jedoch an, er könne sich eventuell erinnern so dies und jenes geschehe)

Bei Einsicht in diese Blogs( erschinenen als der Al Fajer Dynasty Zarooni Skandal in der Presse Anfang 2009 berichtet wurde) ist festzustellen, das diese lediglich Artikel zu dem Fall Al Fajer Properties und Shahram Zadeh , vom Wall Street Journal sowie weiteren offiziellen Presseorganen der USA , 1 : 1 veröffentlicht haben. Er klagt jedoch nicht gegen diese offiziellen Medien, sondern gegen die Blogs von offensichtlichen Privatpersonen.

Es ist anzunehmen das es sich hierbei um geschädigte Investoren aus dem Skandal Ebony und Ivory Towers ( Jumeirah Business Centre Al Fajer Properties handelt), die über diesen Weg Öffentlichkeit und damit Hilfe suchten.

Oder es ist anzunehmen das es sich um eine Selbstinziernierung seitens Maktoum Hasher oder Mulchandini handelt – um falsche Beweise zu konstruieren – und diese dann anderen via Klage anzuhängen.

Als reichte es nicht schon, welche Schädigung diverse Investoren durch das Handeln dieser beiden Parteien erlitten haben, das Ihnen Drohungen über diverse Wege zuteil werden, mit Psychoterror alle Wege versperrt werden in Dubai vor Gericht zu gehen, das in Dubai alles mögliche veranstaltet wurde um die Presse auszuschalten und weiter über diesen Fall zu berichten.

Unter der Überschrift: Die betrogenen Betrüger schrieb schon einst Ogger welche Formen bis hin zur Gewalttätigkeit bei solchen Personen möglich sind. Von diesem Status ist dieser Fall wohl nicht mehr weit entfernt. Aus den vorgenannten Ereignissen und dem jetzt zu Tage gekommenen Klage des Maktoum Hasher( in Existenz vernichtender Höhe gegen Privatperonen ( Kunden des Hauses Al Fajer die sich nicht erpressen ließen, ehemalige Mitarbeiter von Al Fajer sowie gegen Zadeh) ist das Agressionspotential zu ersehen. Unter der Mittäterschaft von Anwälten wird hier versuch grenzüberschreitende Macht mit kriminellen Methoden durchzusetzten. Koste es was es wolle und wenn es Menschenleben kostet.

Geld , Gier und Machtverhalten dieser Art sollten zu denken geben – sollten darüber nachdenken lassen – um welche Persönlichkeitsstörung es sich hier handelt.

Keine der betroffenen Personen wird sich jemals mehr in Dubai sicher fühlen können – denn irgendein Vorwand wird sich  eine Person die derartiges inziniert immer finden – um erweitert Rache ( auch wenn diese unberechtigt ist ) zu üben. Investoren die aus Angst das Land nicht mehr betreten – können auch keine Aussage vor Gericht machen. Kein Prozess – kein Geld zurück – in Angst versetzte Journalisten von weiterer Berichterstattung ausgeschaltet.

Kriminelle Organisationen wie die Mafia wenden keine anderen Methoden an.

Dieses Verhalten was seitens Maktoum Hasher zu Tage getreten ist repräsentiert nicht Dubai, repräsentiert nicht das Verhalten der Familie Al Maktoum.

Aber es zeigt auf, zu was bestimmte Personen innerhalb dieser Familie hier fähig sind und gegen die, befindet man sich in Dubai, wenn es denn passiert, man sich in Dubai nicht wehren kann. Selbst vor grenzüberschreitenden kriminellen Handlungen ( Verfolgungen bis in die Tschechei, den Lebanon oder Deutschland) wird kein Halt gemacht, wie man aus diesem Fall sieht.

Welche Art von Reputation sich Maktoum Hasher Maktoum Al Maktoum für sich und Dubai auf diesem Weg zurückgewinnen will ist fraglich.

Der Hauptantrieb für all seine Aktionen scheint aber letzendlich die verbitterte Jagd nach Shahram Zadeh zu sein, dem Mann der es gewagt hat Strafanzeige gegen ihn, seinen Vater und die Schwester wegen offensichtlicher Veruntreuung des Unternehmens Al Fajer Properties in Dubai zu erstatten. Falsche Behauptungen über den Grund der Verhaftung Zahdeh`s wurden offensitlich fantsievoll ebenso konstruiert.

Der Betrug und Psychoterror seitens Al Fajer Properties, der in unserem Fall nunmehr seit März 2008 andauert,wird seitens Sheikh Maktoum Hasher Maktoum Juma Al Maktoum gegen uns massiv weiter betrieben. Unser Geld befindet sich weiterhin in den Händen von Maktoum Hasher Al Maktoum der sich gern via Open PR als erfolgreicher President der Fajer Properties Dubai selbstdarstellt.

*) Alle zuvor gemachten Angaben sind wahr und können jederzeit mit entsprechenden Dokumenten belegt werden.

Die Namen der hier berichtenden, durch Betrug betroffenen, Personen (Käufer aus Deutschland) werden aus Personenschutzgründen nicht genannt, da bereits öffentliche Drohungen im Internet gegen diese erfolgt sind.

Weitere Verweise Presse….

ABC News Shahram Zadeh

Al Fajer Properties Dubai Chronicle

Dynasty Zarooni Al Fajer Properties Financila Times

Forbes Where are the locals

Fraud Case Al Fajer Properties Ebony Ivory Towers The Guardian 2009

Iranian’s lawsuit reveals uae royal power

Case Dynasty Zarooni Januar 2009 Press

Dynasty Zarooni dubai case January 2009 Press

Fraud Case sheikh Maktoum Hasher Al Maktoum Shahram Zadeh Torture Dubai

Al Fajer Properties Dynasty Zarooni Case January 2009

Petition Investors Project Al Fajer Properties Jumeirah Business Centre

Al Fajer Properties Ebony Ivory Towers Investors Press 2009

Al Fajer Properties Dubai International Investors angry 2009

Dubai Al Fajer Properties Media Blackout Report End 2009

Al Fajer Properties Dubai Ebony Ivory Towers Media Blackout Independent

Al Fajer Properties case Battle over the Books

Dubai legal System on Trial

shahram Zadeh conned by Dubai Royal Family member

Posted in Al Fajer Properties, Dubai, Dubai Fraud, Dubai Real Estate, Ebony Ivory Towers Dubai, Immobilienbetrug Dubai, Jumeirah Business Centre, Kabir Mulchandani, Maktoum Hasher Maktoum, Shahram Abdullah Zadeh, Sheikh Maktoum Hasher Maktoum Juma Al Maktoum-2, Strafanzeige Deutschland, Vereinigte Arabische Emirate | Tagged: , , , , , , , , , | Comments Off on Horror Szenarien eines Immobilienkaufs in Dubai – Al Fajer Properties – Betrug – Bedrohungen – Stalking – Pressefreiheit

Dubai Where Are The Locals ? Forbes Headlines

Posted by 7starsdubai on June 3, 2009


Forbes March 11, 2009

Seven suspects have reportedly been singled out by the authorities, but all of them are foreigners.

Dubai’s anti-corruption probe seemed in full swing Tuesday, after seven expatriate businessmen were reportedly accused by prosecutors of taking part in a $500.0 million fraud at Dubai Islamic Bank. The suspects included three Britons, two Pakistanis, one Turk and one American, according to the Associated Press, raising concerns that local Emiraatis might not be held as fully accountable as the expat brigade.

“Some might say that it’s evidence of the anti-corruption drive, but again, where are the Emiraatis?” wondered Christopher Davidson, a British academic who has authored several books on Dubai and the United Arab Emirates. “There have to be the local sponsors, the line managers, the people whose desk at which the buck stopped.”

The alleged fraud involved a company called CCH, which according to reports was linked to some of the named suspects and may have forged documents to fraudulently obtain funds from Dubai Islamic Bank. The bank issued a statement on Tuesday claiming its exposure to CCH was around $330.0 million and that it was chasing down assets “in a range of countries.”

The former chief executive of Dubai Islamic Bank, Saad Abdul Razak, was reportedly taken into custody last year for questioning, as part of the authorities’ probe of the real-estate sector, but his name does not seem to have made the final list. Press reports claim that a handful of local Emiraati executives have also been interrogated, including Sami al-Hashemi, ex-CEO of real-estate developer Mizin, and Abdul Salam al-Marri, head of the Lagoons development on Dubai Creek.

Although Dubai’s defenders cite the example of a former cabinet minister, named in press reports as Khalifa Mohammad Bakhit al-Falasi, who was sentenced to two years in jail in February for an unrelated case of fraud and embezzlement, the truth is that very few local Emiraatis have been charged or punished as a result of such investigations.

Expatriate businessmen have also accused the Dubai authorities of torture and detention without charge, including Zack Shahin, ex-CEO of Dubai Islamic Bank’s real-estate subsidiary Deyaar Properties, and Shahram Abdullah Zadeh, former manager of developer Al-Fajer Properties Dubai  (See “Desert Storm In Dubai.”)

Zack Shahin is still behind bars and still has not been charged, according to one of his American lawyers, James Pitts, who told Forbes that there were around 40 other foreign businessmen in a similar situation in Dubai.

When asked whether Shahin might have provided names to the authorities in exchange for a lighter potential sentence, or exemption from the charge sheet, Pitts replied: “I am certainly not aware of any such arrangement.”

Read also: Desert Storm in Dubai

Read also : Madoff of The Mideast Denies Charges



Posted in Dubai, Dubai corruption, Fraud Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , , | Comments Off on Dubai Where Are The Locals ? Forbes Headlines

Al Fajer Properties – Dynasty Zarooni – Ebony Ivory case – Dubai Court grants bail to Kabir Mulchandani

Posted by 7starsdubai on May 22, 2009


source GulfNews May 21, 2009

Dubai: Dubai Public Prosecution has granted bail to a senior executive of a real estate company who is being interrogated over alleged financial irregularities, Gulf News has learnt.

“The Dubai Public Prosecution granted bail to Dynasty Zarooni Real Estate’s Chairman Kabir Mulchandani. yesterday, but the interrogation continues over his alleged fraud and swindling charges,” a senior public prosecutor told Gulf News on Thursday.

Lawyer Eisa Bin Haider confirmed that his client was released on bail on Thursday.

The Case Dynasty Zarooni – Al Fajer Properties
Jumeirah Business Centre 7,8,9 –
Ebony Ivory Towers – Jumeirah Lake Towers

The Public Prosecution has been questioning Kabir Mulchandani., an Indian, and the firm’s president, an Emirati national, Hilal Al Zarooni, over alleged fraudulent charges.

Salem Al Sha’ali, the legal representative of investors who were reportedly swindled, said earlier some of his clients lodged nearly 30 complaints worth millions of dirhams against the suspects.

More about this case Dynasty Zarooni Al Fajer Properties ( Jumeirah Business Centre – complaining investors) from the past

Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , | Comments Off on Al Fajer Properties – Dynasty Zarooni – Ebony Ivory case – Dubai Court grants bail to Kabir Mulchandani

The Case Dynasty Zarooni – Dubai Prosecutors Rejected Bail of Kabir Mulchandani

Posted by 7starsdubai on March 25, 2009


source WallStreetJournal 7starsdubai

Dubai prosecutors Sunday rejected a bail application from Dynasty Zarooni‘s Chairman Kabir Mulchandani who is being held by police on 450 million U.A.E. dirhams ($123 million) fraud allegations, according to documents seen by Zawya Dow Jones.

Mulchandani, who couldn’t be contacted by Zawya Dow Jones, has previously denied any wrongdoing.

Ayman Merdas, a lawyer for Global Advocates & Legal Consultants representing Mulchandani declined to comment when called by Zawya Dow Jones Monday.

Mulchandani applied for bail on March 11 but was refused March 22, according to the Public Prosecution document seen by Zawya Dow Jones.

The Dubai public prosecutor handling the Dynasty Zarooni case couldn’t be reached Tuesday.

-By Stefania Bianchi, Dow Jones Newswires, +9714 364 4967 Stefania Bianchi@dowjones.com

more about this case from Archive 7StarsDubai

Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , | Comments Off on The Case Dynasty Zarooni – Dubai Prosecutors Rejected Bail of Kabir Mulchandani

Al Fajer Properties Scandal – Comment of the day

Posted by 7starsdubai on March 4, 2009


what-aboutComment of the day – to 7starsdubai by Sulaiman

May be Altik you have been coming here for 30 years and have seen the locals stealing from the foreigners. But that is wrong to say all locals are the same. The big fuss is that its the first time a sheikh from the al maktoum family stealing a company from its true owner, threatening the staff and then going ahead to partner with a crook like kabir mulchandani in a mass misrepresentation campaign showing construction photos that don’t exist and cheating investors thanks to the arrogant support of sheikh maktoum hasher al maktoum the nephew of the dubai ruler.

Dubai is not a bad place and has wonderful people, its just that the law is not enforced equally and that has been more evident recently. Dubai can not afford to continue to allow such injustice towards investors while a junior member of the royal family is pocketing the money.

Sheikh mohammed himself is a man of law and order, its the clan around him who are corrupted and take advantage of the situation. That happens in many countries by the way, but normally the courts are supposed to be independent, in here unfortunately, dubai police, public prosecution, courts are all biased towards prominent locals who get away from such criminal acts as al fajer properties and dynasty zarooni.

read more about …..

Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , | Comments Off on Al Fajer Properties Scandal – Comment of the day

Dynasty Zarooni Fraud Dubai – Some statements from Investors

Posted by 7starsdubai on February 13, 2009


 http://www.dnaindia.com/report.asp?newsid=1221052

Kabir Mulchandani, who was arrested in Dubai in connection with an alleged realty scam, is also alleged to have floated another scheme of three 40-floor buildings( Jumeirah Business Centre 7, 8,9 )  in Jumeirah opposite the Dubai Marina — the most posh locality of the Emirates.

Full page advertisements were run in papers, making him the largest advertiser of the Emirates during the period, said Mohammed Marzooq from Kerala. “He showed us the picture of a building with a podium, three-storeyed car parking and a complete floor for a departmental store. It was half complete and the rest of the 35 floors were to be built in the next one year”, Marzooq said.

Atul Patel, a UK-born Indian , a multinational from US, told DNA over the phone that he had “booked a 10,000 sq ft flat in the 35-floor building called Ebony Ivory at Jumeirah for 3.5 million dirhams.”

“I paid the entire amount because I was dealing with the company for some other work. During a vacation in Europe recently, I happened to meet someone who was unhappy with the project. On my return, I went to the site and found that I too had been duped royally,” Atul said.

When cornered by 12 investors, Marzooq said Mulchandani flew them to Nice (in France) in his jet and treated them to a cruise vacation. He showed them properties in Nice. Claiming them to be his own, he asked them to invest there for speedy returns.

“He convinced all of us to sign a cheque, promising that it wouldn’t be encashed till their return to Dubai. Upon arriving at Dubai we found that the cheque had already been encashed,” Marzooq said.

A complainant told DNA that Mulchandani threatened him with deportation due to his clout in the UAE.

Posted in Dubai, Kabir Mulchandani | Comments Off on Dynasty Zarooni Fraud Dubai – Some statements from Investors

Now it getting agressive in Dubai ? – Hunting complaining Investors – Dynasty Zarooni Fraud – Kabir Mulchandani hit back with a counterclaim

Posted by 7starsdubai on February 13, 2009


http://www.ft.com/cms/s/0/64f5823c-f945-11dd-90c1-000077b07658.html?nclick_check=1

fraudThe executive at the centre of $100m fraud allegations rocking Dubai’s property sector has hit back with a counterclaim that his accusers have defaulted on more than $18m of debts owed to his company.

Kabir Mulchandani, chairman of Dynasty Zarooni, claimed that a series of cheques written by investors had bounced as the real estate industry’s fortunes plunged late last year.

The case – involving one of Dubai’s largest private real estate companies – highlights concerns that the emirate’s legal system is poorly equipped to cope with the slew of disputes arising as the sector turns sour.

Dynasty and Mr Mulchandani deny investor allegations of fraud and misrepresentation of the group’s property portfolio.

In an interview at Dubai’s Port Rashid police station, where he has been held since last month, Mr Mulchandani told the Financial Times he was pursuing cheques totalling Dh68m ($18.5m, €14.5m, £13m) that were written by Dynasty investors to pay for property. He claimed they bounced in late December as the international financial crisis hit the emirate’s business community.

dynasty-zarooniHe said: “Certain key investors who had issued post-dated cheques to us got caught in the financial trap. They could not pay.”

Mr Mulchandani said he suspected the investors whose cheques he alleges bounced – a criminal offence in Dubai – had made the accusations of fraud against him because they saw it as a way to recover money after the market fell.

Salem Al Shaali, who is representing investors claiming up to Dh280m from Dynasty, admitted some of their cheques had not cleared. But he said this was because his clients had decided not to honour the cheques because of their suspicions about Mr Mulchandani.

His clients had deposited cheques covering the money they owed, he added, showing that they had the ability to pay if their allegations against the company were satisfactorily addressed.

Hundreds of complaints have been made against Mr Mulchandani, but the initial claims at the heart of the case came from 10 individuals known as Dynasty’s “investment club”. Mr Shaali said: “Mr Mulchandani broke Dubai’s real estate laws by selling properties without a proper licence and misrepresenting construction progress at the buildings”.

Mr Mulchandani, an Indian national, said he was being well treated in custody but expressed frustration at the time taken to investigate a case in which he said he had “nothing to hide”. He is expecting a hearing this week over whether he can receive bail.

He said: “This is a wonderful country but … it is still gearing up to deal with these complaints, because this is the first time they have had a property meltdown.”

The Dynasty imbroglio is a further blow to confidence in Dubai as it scrambles to cope with the sudden end of a six-year property boom on which a good part of its modern-day wealth is founded.

More than 25 executives have been detained over the past year in anti-corruption investigations at state-linked property companies, while lawyers say more claims against private sector property developers are likely to emerge this year as prices collapse and funding dries up.

Posted in Dubai, Kabir Mulchandani | Tagged: , , , , , | Comments Off on Now it getting agressive in Dubai ? – Hunting complaining Investors – Dynasty Zarooni Fraud – Kabir Mulchandani hit back with a counterclaim

News from Dynasty Zarooni and Al Fajer Properties – I’m the victim’, says property tycoon

Posted by 7starsdubai on February 12, 2009


http://www.thenational.ae/article/20090211/BUSINESS/886702850/1051

  • Last Updated: February 11. 2009 10:28PM UAE / February 11. 2009 6:28PM GMT
  • fraud1Kabir Mulchandani, an Indian property tycoon detained by police in Dubai, says people who are accusing him of fraud are trying to get out of investments that turned sour because of the property downturn.

    The chairman of Dynasty Zarooni is being held because more than 25 investors, with claims worth Dh280 million (US$76.2m), have accused him of fraudulently selling them property and running an illegal investment scheme, a lawyer for the investors said. Mr Mulchandani, 36, denies the accusations and says he is being targeted by a group of investors who are unable to meet their obligations as the property market deteriorates.

    “I am the victim here,” he said. “After Lehman Brothers went bust the world changed… The system is being misused by certain individuals who are just wanting money and wanting to get out of commitments they have made that they are not able to fulfil because the market has turned.”

    Mr Mulchandani said his case was likely to be a predecessor to a rash of similar cases caused by the decline in the property market. Dubai property prices have fallen by about 25 per cent since hitting a peak last year.

    “It is going to turn into a bloodbath of attacks by investors who just want to get out of obligations,” he said. “Do you think I would be sitting here had the market been OK?”

    Dynasty Zarooni, a joint venture between Mr Mulchandani and Hilal al Zarooni, an Emirati businessman, is one of the highest profile property companies to come under scrutiny by the authorities since the property market began to fall late last year. The company was the top newspaper advertising buyer in the Emirates last year, spending $14.6m and topping the likes of Nakheel and Emaar Properties, according to figures from the Pan Arab Research Centre. Its advertising spending ranked 10th across the Middle East.

    The company, founded in 2005, is a property resale and marketing operation. It has bought entire buildings off-plan from developers with a bulk discount and re-sold floors and units to investors at a premium. Then, as a service to these core investors, it would market the buildings prominently around the country to facilitate their resale to retail buyers. Usually, Dynasty Zarooni would play a middleman role for the first payments and then contracts would be issued between the buyer and the developer, cutting the company out of the deal.

    It sold 29 buildings in this way last year, according to executives. The business was profitable, with Mr Mulchandani planning a foray into New York City property before his arrest.

    He lives in the Emirates Hills development in Dubai.

    A group of investors, however, allege Mr Mulchandani built his company by misleading investors, according to Salem al Shaali, a lawyer representing several investors.

    One of the allegations is that Dynasty Zarooni displayed one building and sold another.Investors said they were shown buildings that were several storeys high, and told that they were the Ebony and Ivory towers. They bought dozens of units, and in some cases several floors, of the buildings. The buildings were also misrepresented in advertising, the investors say.

    One advertisement in a daily newspaper on July 23 last year showed 24 photographs of “round the work” progress on the Ebony and Ivory projects. A caption for the photographs reads: “Shot at location on 10th June 2008. Ebony & Ivory – Jumeirah Lakes Towers.”

     In fact, the images showed other buildings in the Jumeirah Business Centre complex that were further advanced in construction.

    Work on the Ebony and Ivory towers plots still has advanced only to shoring and piling. A contractor has yet to be chosen for the Dh2 billion project.

    sandhole-g32The Picture shows the construction Status of today 2009, Ivory Tower ( or named Juemirah Business Centre 9, Developer Al Fajer Properties, Jumeirah Lake Towers Dubai)

    Al Fajer Properties, the developer of Ebony and Ivory towers, said a construction contract would soon be signed for the towers, which it said were to be finished between next year and 2012.    An Al Fajer spokesman declined to comment on the issue.

    Mr Mulchandani said the advertisements were meant to show the larger Jumeirah Business Centre complex and depict Al Fajer as a hard-working developer.

    “I don’t believe it is misrepresentative in any way,” he said.

    He said the company had sold the entire building in April and that the investors involved in claims against him had signed contracts that detailed which plot of land the buildings were to be built on.

    Claims have emerged involving other projects that were bought and resold by Dynasty Zarooni, including the Sheffield Classique and Al Qoraishi Tower, according to Mr al Shaali.

    Imran Karim, the son of an investor taking action against Mr Mulchandani, said his father, Abid Karim, was sold units in the Classique and Al Qoraishi Tower under the impression that Dynasty Zarooni was the developer.

    Mr Mulchandani said he never represented himself as a developer.

    Officials from Sheffield Real Estate and Baiti Properties Development, the developer behind the Al Qoraishi Tower, declined to comment.

    Another allegation against Mr Mulchandani is that he created an illegal “investment club” where 12 investors were invited to pay Dh300,000 a month for 12 months for a guaranteed return of up to Dh1m a month. After six months, they expected to redeem their investments, but Mr Mulchandani did not pay, investors said.

    One such investor, Mohammed Arif, who also invested with Dynasty Zarooni in several properties, said he had Dh25m with Mr Mulchandani and projects sold by Mr Mulchandani.

    “I invested a lot of money with him,” he said. “I fear the money is gone.”

    Mr Mulchandani said the Dh300,000 was actually a membership fee for 12 investors who bought from him in bulk. The fee would give the members the first right of refusal to buy up to 5 per cent of buildings that Dynasty Zarooni acquired, as well as use of the Dynasty Zarooni offices for resales. The fee also contributed to advertising, he added.

    Marwan bin Ghalita, the chief executive of the Real Estate Regulatory Authority (RERA), declined to comment on the accusations against Dynasty Zarooni. In November, RERA stated that there were no complaints against Dynasty Zarooni, after allegations in two Indian publications that the company had sold projects while representing to investors that they were buying another project.

    Officials from the Dubai Public Prosecution declined to give details on the cases, but confirmed staff members were investigating the claims.

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , , | Comments Off on News from Dynasty Zarooni and Al Fajer Properties – I’m the victim’, says property tycoon

    Dubai Fraud alligations – The Case Dynasty Zarooni: Complaint at Dubai Police now also against Al Fajer Properties

    Posted by 7starsdubai on February 10, 2009


    original published Financial Times

    http://www.ft.com/cms/s/0/2af58370-e013-11dd-9ee9-000077b07658.html?nclick_check=1

     

    fraud1Dubai Police are investigating fraud allegations against the chairman of one of Dubai’s largest private real estate companies as dozens of aggrieved investors claim he defrauded them of more than $100m.

    Kabir Mulchandani, the chairman of Dynasty Zarooni, was arrested last week on allegations of fraud and is helping with inquiries, police officers told the Financial Times.

    At least 10 members of Dynasty Zarooni’s ”investment club”, which last year promised vast profits from the company’s preferential access to real estate deals, have lodged complaints against Mr Mulchandani, an Indian national, his Emirati business partner, Hilal Al Zarooni, their joint venture Dynasty Zarooni, and two other employees.

    Investors say that Mr Mulchandani in March received subscription fees of Dh300,000 a month from 12 members. He promised them returns of Dh1m a month after six months, or Dh6m, in September, they say.

    One British loser says he was encouraged by initial profits made by another club member, who had reinvested the proceeds into the scheme rather than taking the cash.

    The fraud allegations weigh further on Dubai’s financial hangover as its six-year property boom fizzles out, with investor confidence hitting rock bottom as people are marooned in an illiquid, declining market while developers are hamstrung by financing difficulties.

    More than 25 executives have been detained in an anti-corruption investigation at state-linked property companies. None have gone to trial yet, but the arrests have had an impact on investor confidence in Dubai.

    News of the complaints against the chairman could raise concerns among other investors in Dynasty Zarooni’s claimed Dh21bn real estate portfolio.

    Mr Zarooni denied any participation in, or knowledge of, a fraudulent scheme. ”One hundred per cent I deny this, there is nothing illegal whatsoever,” he said.

    Mr Mulchandani, who has been detained but is seeking bail, could not be reached for comment. He denied any wrongdoing in a local press interview last week.

    Lawyers say more than 100 other investors are preparing cases against Dynasty Zarooni over misrepresentation during the sale of its real estate projects.

    ebony-ivory-al-fajer-properties-plot-h3-g3-jlt-dubaiOne aggrieved investor, who in May placed a 20 per cent deposit on an apartment in Ebony Tower 1, opposite the Dubai Marina, for Dh650,000, yesterday lodged a complaint with the police against Dynasty Zarooni and their development partners, Al Fajer Properties, for allegedly misleading him about the progress made on the building’s construction, thereby raising the supposed value of the property. ”I have been cheated and am very distressed,” he said.

    The cases, if they go to trial, could seek the recovery of hundreds of millions of UAE dirhams, said Salem Shaali, managing partner at Al Shaali & Co, which is representing the victims of the alleged fraud.

    This could develop into one of the UAE’s largest fraud cases if other individual investors in Dynasty Zarooni come forward, he said.

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , , | 1 Comment »

    Dubai Dynasty Zarooni Fraud Allegations Widen,Bail At AED400M

    Posted by 7starsdubai on February 4, 2009


    http://www.zawya.com/Story.cfm/sidZW20090124000023/%3D%20Dubai%20Dynasty%20Zarooni%20Fraud%20Allegations%20Widen,Bail%20At%20AED400M/
     
            By Stefania Bianchi

            Of ZAWYA DOW JONES

            DUBAI (Zawya Dow Jones)–Dubai’s public prosecution has raised the bail to 400 million U.A.E. dirhams ($108 million) for Dynasty Zarooni’s Chairman Kabir Mulchandani, who is being held by police on fraud allegations, as more aggrieved investors lodge complaints, officials said.

            Mulchandani, whose mobile phone was turned off when called by Zawya Dow Jones Thursday, has previously denied any wrongdoing.

            An official at the public prosecution told Zawya Dow Jones that Mulchandani is being held on allegations of “fraud and embezzlement” and that he would have to pay the full bail amount in order to be released.

            According to lawyers at Al Shaali & Co., one of a number of Dubai-based law firms acting on behalf of the investors pursuing Mulchandani, the cases against the Indian businessman and Dynasty Zarooni involves projects in Dubai and Abu Dhabi worth more than AED5 billion.

            “We’re currently handling about AED500 million worth of cases,” Said Al Akkad from Al Shaali & Co. said Thursday.

            The law firm says the final value of cases against Dynasty Zarooni could rise much higher as other investors involved in Dynasty Zarooni’s apparent AED21 billion real estate portfolio come forward.

            “There are a lot more investors out there who want to file complaints against Dynasty Zarooni. The whole process takes a long time,” said Al Akkad.

            Mulchandani was arrested by police in early January and has since been referred to the public prosecution. Mulchandani’s bail was set at AED76 million when he was first arrested.

            Hilal Al Zarooni, Mulchandani’s local partner in Dubai, referred Zawya Dow Jones to his lawyers Global Advocates & Legal Consultants when called. Global, who are also representing Mulchandani and the company Dynasty Zarooni, declined to comment on the case.

            COMPLAINTS

            Investors at six of Dynasty Zarooni’s developments worth approximately AED6.35 billion have so far lodged complaints with the police, according to Al Shaali & Co.

            The complaints so far refer to property at the company’s Ebony & Ivory, Berlin Tower, K Hotel, Panoramic Heights, Sheffield Classique and Al Quorashi Tower developments. The cases include the taking of deposits and installment payments without depositing the money into an escrow account, the issuing of contracts worth just AED1 after the full value of the property has been paid and the misrepresentation of property during the sale.

            Some investors at the Ebony and Ivory project in Dubai’s Jumeirah Lake Towers district have also lodged a complaint with the police against Dynasty Zarooni for allegedly misleading them about the progress made on the building’s construction. Prominent advertising campaigns in Dubai showed pictures of the Ebony and Ivory real estate project under construction 24 hours a day, but a visit to the site by Zawya Dow Jones revealed that no work was underway.

            In an advertising campaign published in local media last year the company said that as a company it had earned AED20 billion in revenue, as well as AED6 billion for its investors.

            Lawyers say Mulchandani is also being investigated for allegations that he conned a small group of wealthy investors into pledging large sums of money with the promise of a hefty monthly return.

            Investors interviewed by Zawya Dow Jones say Mulchandani received subscription fees of AED300,000 a month from 12 members of the so-called “investment club”. Mulchandani promised a return of a million dirhams a month after six months after investing their money in Dubai real estate projects.

            The investors say Mulchandani has so far failed to deliver any returns, or their initial capital.

            By Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; stefania.bianchi@dowjones.com

            (Majdoline Hatoum in Dubai contributed to this article.)

            Copyright (c) 2009 Dow Jones & Co.

            Click here to go to Dow Jones NewsPlus, a web front page of today’s most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=CqhgwHGrhVjWVDlKy6lCLA%3D%3D. You can use this link on the day this article is published and the following day.

            (END) Dow Jones Newswires

            January 24, 2009 03:54 ET (08:54 GMT)

    Posted in Dubai, Kabir Mulchandani | Tagged: , , | Comments Off on Dubai Dynasty Zarooni Fraud Allegations Widen,Bail At AED400M

    Prosecution looks into Dynasty Zarooni Dubai fraud claims

    Posted by 7starsdubai on January 17, 2009


    original published 7days 13. Jnauar 2009

    http://www.7days.ae/storydetails.php?id=72375%20%20%20%20&page=local%20news&title=Prosecution%20looks%20into%20fraud

    ebivpage031

    The alleged fraud case against the chairman of Dynasty Zarooni, is now under investigation by Dubai Public Prosecution, a spokesperson at the office confirmed.

    A lawyer for the comp-lainants told 7DAYS that the investigation had begun with questions for the investors, who claim that the chairman, Kabir Mulchandani, defrauded them of up to dhs450 million ($123 million).

    Salem Al Shaali added that he could not tell the number of investors in the case as there are “new complaints every day”.

    Al Shaali also said there was a second suspect in the case, and that some investors had informed him that this suspect had already fled the country.

    The law firm, Al Shaali and Company, also told newswire Zawya Dow Jones that Mulchandani is being questioned on two counts, both subject to the Federal Penal Code and Dubai’s property laws.
    The first case relates to the allegations that the membership club Mulchandani has admitted to running was sold to a small group of wealthy investors under false pretences, and that they were promised large returns.

    The second case involves the selling of property at the dhs2 billion Ebony and Ivory development in Dubai’s Jumeirah Lake Towers district.
    According to Zawya Dow Jones, Al Shaali said that Mulchandani took deposits for 20 per cent of the property but failed to deliver the project.

    Dubai Public Prosecution confirmed they had started the investigation.

    Dynasty Zarooni said it preferred not to comment until charges had been brought.

    Posted in Dubai, Kabir Mulchandani | Tagged: , , | Comments Off on Prosecution looks into Dynasty Zarooni Dubai fraud claims

    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

    Bouncing towards a jails boom in Dubai

    Posted by 7starsdubai on January 14, 2009


    original published: Evening Standard UK 14-01-2009

    http://www.thisislondon.co.uk/standard-business/article-23618915-details/Bouncing+towards+a+jails+boom/article.do

    Even when the real estate bubble was inflating, Dubai police were arresting people over property fraud. Now the bubble has burst, the numbers could well rise.

    The latest case surrounds Dynasty Zarooni, which investors claim defrauded them of more than $100 million. They say promised returns from tower blocks in Dubai and its satellite towns never materialised. Hilal Al Zarooni, one of the company founders, denies any wrongdoing. Police say they’ve arrested company chairman Kabir Mulchandani, but no formal charges have been made.

    It’s part of a wider campaign against rogue property deals that began last March with the arrest of Zack Shahin, chief executive of developer Deyaar. Since then, senior executives from a string of companies have joined him in the cells, including Tamweel, Sama Dubai and Nakheel.

    The Dubai government owns significant stakes in each of them. Indeed, the probe has stretched as far as JPMorgan. A senior banker was held as part of the probe in summer 2008, although the investigation relates to his previous job with a subsidiary of Dubai Islamic Bank — also backed by the Dubai government.

    No one has yet stood trial, so the details remain sketchy. And while court cases may well reveal some wanton criminal scams, others may be guilty of nothing more than business failure. That’s because the UAE’s bankruptcy law is crude at best. Failing to pay debts is a criminal offence, with no provision for personal bankruptcy.

    Businessmen and women who bounce cheques can and do end up in prison.

    This hasn’t been a major problem in Dubai, as most individuals and companies have done well, certainly over the past decade or so. Now it is, as the economy slows, companies go bust and thousands of people lose their jobs. If the UAE doesn’t bring bankruptcy rules up to speed, one area of property development is sure to boom: construction of debtors’ jails.

    * As recessions go, it’s as shallow as they come. Investment bank EFG-Hermes says the UAE economy will shrink by 0.04% this year. Still, after years of double-digit growth, it’s sobering. EFG economist Monica Malik says Opec quotas will curb oil production, and real estate and tourism will slow down. One crumb of comfort: she says growth will return next year, at about 4%.

    * Not all foreign investors have deserted Dubai. Reports suggest that, wait for it, Spice Girl Geri Halliwell may be opening a nightclub in the city with new boyfriend Nick House, a founder of London’s Mahiki.

    Posted in Dubai, Kabir Mulchandani | Comments Off on Bouncing towards a jails boom in Dubai

    Dynasty Zarooni – Al Fajer Properties -Dubai Property Tycoon Mulchandani Held; $123M Scam Alleged

    Posted by 7starsdubai on January 12, 2009


    By Stefania Bianchi

    Of ZAWYA DOW JONES

    DUBAI (Zawya Dow Jones)–Dubai’s Public Prosecution is detaining Kabir Mulchandani, chairman of Dynasty Zarooni Real Estate, amid allegations he defrauded investors of up to 450 million U.A.E. dirhams ($123 million), according to lawyers for the investors, government officials and one of his business partners.

    His detention is the latest in series of arrests in Dubai related to real estate and finance, but there’s no evidence at present Mulchandani’s arrest is related to any of the previous cases.

    Mulchandani, who couldn’t be reached for comment, has previously denied any wrongdoing.

    Hilal Al Zarooni, Mulchandani’s local partner in Dubai, said in a phone interview with Zawya Dow Jones “there is no evidence against the company. We sold everything legally.”

    Al Zarooni confirmed that Mulchandani is being held for questioning in Dubai, adding that he hasn’t been contacted by authorities on the matter.

    Ali Al Hashimi, an attorney for Global Advocates & Legal Consultants who are representing Dynasty Zarooni, also denied that there had been any wrongdoing on the part of his client in a phone interview.

    Dubai police officials told Zawya Dow Jones Sunday that Mulchandani has been transferred from Jebel Ali police station to the custody of Dubai’s Public Prosecution pending an investigation of his case.

    According to law firm Al Shaali & Co., which is acting on behalf of the investors pursuing Mulchandani who have complained to the police, he is being questioned on two counts both subject to the Federal Penal Code and Dubai’s property laws.

    The first case relates to allegations that he conned a small group of wealthy investors into pledging large sums of money with the promise of a hefty monthly return.

    The second case involves the selling of property at the AED2 billion Ebony and Ivory development in Dubai’s Jumeirah Lake Towers district. According to Salem Al Shaali, the lawyer handling the case at Dubai-based Al Shaali & Co., Mulchandani took deposits for 20% of the property but failed to deliver the project.

    A visit to the site of the project by Zawya Dow Jones confirmed that no work was underway. According to the lawyers, Mulchandani had shown investors other buildings under construction in Dubai an effort to convince them that the project was ongoing.

    Jaydeep Anand, Dynasty Zarooni’s chief operating officer, declined to comment on whether Mulchandani was being held when called by Zawya Dow Jones.

    “I’m not the right person to comment on this,” he said and referred the call to Rajesh Gupta, Dynasty’s chief financial officer. Gupta didn’t answer calls to his mobile.

    Mulchandani was initially held by police earlier last week for an alleged liquor-related offense and bouncing a check for an undisclosed amount, which is an offense in the United Arab Emirates, an official at Dubai’s Public Prosecution told Zawya Dow Jones on Tuesday.

    He was later released on bail for AED46 million, but was re-arrested Thursday afternoon after further cases relating to the Ebony and Ivory development were brought against him by investors, according to Salem Al Shaali, a lawyer at Al Shaali & Co.

    Al Shaali said Mulchandani’s bail has now been raised to AED76 million.

    Investors interviewed by Zawya Dow Jones who were involved with Mulchandani say they paid AED300,000 a month into the program for which Mulchandani promised a return of a million dirhams a month after the first six months in September.

    The investors, who asked not be identified, said Mulchandani had promised to invest their funds in Dubai real estate projects but had failed to deliver any returns, or their initial capital.

    According to the allegations being made by Al Shaali’s clients Mulchandani got a group of 12 investors to pay AED30 million in deposits for another real estate project in Dubai, called Al Quorashi Tower. According to Al Shaali, the project never existed.

    Earlier this year, Dubai’s Real Estate Regulatory Authority, or Rera, cleared Dynasty Zarooni of any wrongdoing after two Indian publications ran reports that some investors had complained Mulchandani had misled them by showing one property and selling them another.

    Officials at Rera were unavailable for comment when called.

    Big Advertising Spend

    Dynasty Zarooni was created in September 2007 with the merger of the Hilal Al Zarooni Group and the Bahamas-registered business consultancy firm Dynasty Enterprises Inc. The company had a net equity of 1.35 billion U.A.E. dirhams ($367.5 million) at the time of merging, according to Zawya.com data.

    Dynasty Zarooni was the country’s top spender in advertising during the first half of 2008, overtaking Emaar Properties PJSC (EMAAR.AI).

    According to the Pan Arab Research Centre, the company’s ad spend for the first six months of 2008 was estimated at $10.58 million (AED38.8m). Leaping from an almost non-existent advertising spend in 2007, the new advertising budget accounts for around 1.8% of the company’s total business of AED21 billion.

    Investors interviewed by Zawya Dow Jones said that Dynasty Zarooni’s prominent advertising campaigns in Dubai, which showed pictures of the Ebony and Ivory real estate project under construction, had played a major factor in their decision to invest with Mulchandani.

    By Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; stefania.bianchi@dowjones.com

    (Tahani Karrar and Majdoline Hatoum also contributed to this item).

    Copyright (c) 2009 Dow Jones & Co.

    (END) Dow Jones Newswires

    11-01-09 1625GMT

     

     

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Comments Off on Dynasty Zarooni – Al Fajer Properties -Dubai Property Tycoon Mulchandani Held; $123M Scam Alleged

    Another nice statement from Dynasty Zarooni

    Posted by 7starsdubai on January 11, 2009


    original published 7days.ae January 11, 2009

    http://www.7days.ae/storydetails.php?id=72200&page=local%20news&title=Chairman%20held%20over%20fraud%20claims

    Dubai police are holding the chairman of Dynasty Zarooni, Kabir Mulchandani, amid ongoing accusations of fraud at the company from investors, according to reports.

    The firm’s lawyer told 7DAYS that the “allegations are groundless, and we are preparing our legal case”.
    Reports yesterday restated the allegations that the company had bounced cheques and made guarantees of returns to investors.

    Last week, Mulchandani told 7DAYS that there was “no question” of any cheques from Dynasty Zarooni bouncing.
    “If somebody can produce a bounced cheque of even one dirham, add five zeroes to that and we’ll give that amount,” he said.

    “Not only have we not bounced any cheque, we have not deferred or delayed any single payment, we are the only company that is on time with every single payment, not even late by a day, to all properties we have purchased – despite market conditions.”

    It is alleged that clients were requested to invest dhs300,000 per month with Mulchandani, which he promised would return profits of a million dirhams a month after the first six installments.

    Mulchandani claims that these payments were a membership fee that gave investors first right of refusal on new properties at pre-launch prices from Dynasty Zarooni.

    However, an investor told 7DAYS yesterday that even a membership such as this would be illegal for the firm to run.
     “He [Mulchandani] is not allowed to run a membership, the company is a DMCC-registered company and the approved activity for the company is business consultancy management,” he said.

    He added that around 40 investors had lodged complaints against the firm.

    On Wednesday, Mulchandani said that the number of investors making complaints about the company was irrelevant without evidence.

    “Unfortunately the situation that we have is that obviously they will all now form some sort of a union, because they all don’t want to pay. So if there’s say ten people who don’t want to pay, that doesn’t make them right, that makes them wrong ten times over.

    “You’d probably believe ten people but the fact is that if you need to see the documents,” he said.
    He also said that Dynasty Zarooni had not tried to act outside its remit as a buyer and seller of properties.
    “I’ve categorically said this every time, our sales team know it and our documents say it – we do not run an investment company.

    “We buy and we sell, when you sell you transfer risk and reward. So the upside is yours, good luck to you and the downside is yours if it does happen and that’s unfortunate,” he added.

    Mulchandani maintains that the investors now making criminal complaints against him are doing so because post-dated cheques given to the company for both the membership fee, and for properties they purchased, have bounced.

    “The problem in this market is that people were all here for the bull run and you need to have seasoned people to deal with problems and not run around in a frivolous manner and make allegations that are clearly false just because they are not able to meet obligations,” he said.

    Posted in Dubai, Kabir Mulchandani | Comments Off on Another nice statement from Dynasty Zarooni

    It`s confirmed – Dynasty Zarooni Chmn Arrested, Police Says – Report

    Posted by 7starsdubai on January 8, 2009


     http://zawya.com/Story.cfm/sidZW20090108000104/Dynasty%20Zarooni%20Chmn%20Arrested,%20Police%20Says%20-%20Report/Thursday, Jan 08, 2009

    DUBAI (Zawya Dow Jones)–Dubai Police has arrested Kabir Mulchandani, chairman of Dubai property company Dynasty Zarooni Dubai-based Al Bayan newspaper reports Thursday, citing a senior police official.

    “Dubai Police has arrested Kabir Mulchandani for fraud and bouncing checks’ accusations, and he is currently under investigation,” Al Bayan cites Colonel Khalil Al Mansouri, head of criminal investigations unit at Dubai Police, as saying.

    “His case will be sent to the public prosecution soon to complete the investigation,” Al Bayan reports.

    Zawya Dow Jones first broke the news of Mulchandani’s arrest on Tuesday.

    The government has been investigating a handful of the city-state’s top real estate and lending firms, but Mulchandani’s arrest this week is not thought to be linked to these ongoing corporate investigations.

    Newspaper Web site: http://www.albayan.ae

    -Dubai Bureau, Dow Jones Newswires; +9714 3644964; djnews.dubai@dowjones.com

    Copyright (c) 2009 Dow Jones & Co.

    (END) Dow Jones Newswires

    08-01-09 0912GMT

    Posted in Dubai, Kabir Mulchandani | Tagged: , , | Comments Off on It`s confirmed – Dynasty Zarooni Chmn Arrested, Police Says – Report

    Chairman Dynasty Zarooni arrested – Sources told Gulf News the complaints involve some Dh2.8 billion.

    Posted by 7starsdubai on January 8, 2009


    http://www.zawya.com/story.cfm/sidGN_08012009_10273415/Dubai%20Real%20Estate%20Company%20Chairman%20Denies%20Charge 

    Thursday, Jan 08, 2009

    Gulf News

     

    Dubai: The chairman of a Dubai-based real estate firm has denied reports that he had been arrested on allegations of fraud.

    Kabir Mulchandani told Gulf News there was no police arrest warrant against him.

    “I know some complaints have been lodged with the police by some people against our firm but these people gave cheques that bounced. They have no legitimate reason to complain,” he explained over the phone.

    He said the company was “in good shape.”

    Company president Hilal Al Zarouni said the company is “functioning properly”.

    Both executives said they didn’t know if the police were investigating the complaints.

    Lawyer Salim Al Sha’ali, who represents a number of complainants, said the complaints are related to an alleged fraud scheme.

    “We have been studying the legalities of the case… and we believe that there is a supposed crime of conning people out of money,” he told Gulf News.

    The Federal Penal Code and the property laws issued lately are the legal grounds in this case, argued the lawyer.

    Sources told Gulf News the complaints involve some Dh2.8 billion.

    However, Mulchandani denied the accusations and said he has “all the documents that support our position that those people have reneged on their commitments”.

    © Gulf News 2009. All rights reserved.

    Posted in Dubai, Kabir Mulchandani | Comments Off on Chairman Dynasty Zarooni arrested – Sources told Gulf News the complaints involve some Dh2.8 billion.

    Dynasty Zarooni Real Estate Chairman arrested in Dubai

    Posted by 7starsdubai on January 7, 2009


    brochure02afpdyza021      brochure01afpdynastyzarooni03        brochure02afpdyza031   brochure01afpdynastyzarooni02
    DUBAI (Zawya Dow Jones)–Kabir Mulchandani, chairman of Dubai property company

    The official confirmed that a case has been filed against Indian businessman Mulchandani in Dubai for an alleged liquor related offense and bouncing a cheque for an undisclosed amount, which is an offense in the United Arab Emirates.

    Dynasty Al Zarooni Real Estate
    Dynasty Zarooni
    UAE | Real Estate
     News | ProfileOfficers

    , has been held this week by Dubai police, an official at Dubai’s Public Prosecution told Zawya Dow Jones Tuesday.

     

    Jaydeep Anand, Dynasty Zaroonis chief operating officer, was unable to confirm the arrest when called by Zawya Dow Jones.

    “I have no information,” he said.

    The Public Prosecution official said that Mulchandani has been questioned but was unable to provide further information.

    Earlier this year, Dubai’s Real Estate Regulatory Authority cleared Dynasty Zarooni of any wrongdoing after two Indian publications ran reports that some investors had complained that Mulchandani had misled them by showing one property and selling them another.

    The developer was created in September 2007 with the merger of the Hilal Al Zarooni Group and Dynasty Enterprises Inc and a net equity of 1.35 billion U.A.E. dirhams ($367.5 million).

    -By Majdoline Hatoum and Stefania Bianchi, Dow Jones Newswires; +9714 364 4964; majdoline.hatoum@dowjones.com

    Copyright (c) 2007 Dow Jones & Company, Inc.

    (END) Dow Jones Newswires

    06-01-09 1041GMT

    Read the rest of this entry »

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Comments Off on Dynasty Zarooni Real Estate Chairman arrested in Dubai

    Dynasty Zarooni Chairman – Criminal Business Partner of Al Fajer Properties Dubai – arrested

    Posted by 7starsdubai on January 5, 2009


    http://www.bi-me.com/main.php?id=29498&t=1&c=33&cg=4&mset=

    UAE. The head of a Dubai-based real estate firm has denied reports that he had been arrested on allegations of fraud.

    Kabir Mulchandani, Chairman of property investment consultant Dynasty Zarooni, said in an interview for Gulf News there was no police arrest warrant against him.

    “I know some complaints have been lodged with the police by some people against our firm but these people gave cheques that bounced. They have no legitimate reason to complain,” he explained over the phone.

    He said the company was “in good shape.”

    Company President Hilal Al Zarouni said the company is “functioning properly”. Both executives said they didn’t know if the police were investigating the complaints.

    Lawyer Salim Al Sha’ali, who represents a number of complainants, said the complaints are related to an alleged fraud scheme.

    “We have been studying the legalities of the case… and we believe that there is a supposed crime of conning people out of money,” he said.

    The Federal Penal Code and the property laws issued lately are the legal grounds in this case, argued the lawyer. Sources said the complaints involve some 30 investors with at least US$1 million each invested with Dynasty Zarooni.

    However, Mulchandani denied the accusations and said he has “all the documents that support our position that those people have reneged on their commitments”.

    Reports yesterday claimed clients said they paid AED 300,000 per month for which Mulchandani promised a return of AED 1 million a month after the first six installments. But Kabir Mulchandani said that the montly payment was a fee for investors to secure first refusal on properties sold by Dynasty Zarooni at pre-launch prices, an average discount of between 2% and 5%. And he insists no returns were ever guaranteed.

    “There is not a single document, email, a fax, an SMS, that anybody can produce in Dubai or elsewhere in the world that in any way represents that we guaranteed any form of return,” he said.

    He added that many investors had actually made far more than the guaranteed return he is claimed to have given, despite the slump in the property market.

    He said: “This is a case of people having a situation where they can’t meet their obligations, which is unfortunate, but they shouldn’t have over-traded. You can’t buy what you can’t pay for.”

    He said those making the complaints against him had bounced post-dated cheques given to the company for both the membership fee and for the properties they purchased.

    Mulchandani had left India for Dubai where he set up Dynasty Zarouni, to cash in on Dubai’s booming real estate market.

    Kabir Mulchandani is also the founder of Baron International, the Mumbai company that pioneered cheap colour TVs and music systems under the brand names Aiwa and Akai, a firm which came under scrutiny from the DRI and Enforcement Directorate in India.

    Dynasty Zarooni markets ready-to-move in properties constructed by Dubai real estate company Al Fajer. The firm advertises these properties on his website and invites NRIs to invest money.

    Al Fajer is known for its projects in Jumeirah Business Centre 1 and 2 apart from various projects at Jumeirah Lakes and Jumeirah Island.

    Dubai’s Real Estate Regulatory Authority (RERA) is probing the company’s operations after nearly 30 NRIs from India, Russia and UK complained online that he had misled them by showing a different property and selling them another

    RERA authorities are reported to have told Indian newspapers that the firm had also not followed the local rule of depositing sale proceeds of real estate properties into a government-shared escrow account.

    One particular complaint cites how Mulchandani allegedly sold apartments in a three-tower complex, showing the two completed towers as the properties that were for sale but allotting ownership documents of the third tower which has yet to come up.

    Speaking to Mumbai Mirror RERA’s head of legal cell, Imad Hussein, is reported as saying: “We have received complaints of 30 investors from India, Russia and the UK. The company Dynasty Zarouni offered real estate properties at half the market price.

    “It also allegedly lured investors by misrepresenting a different property in the name of another. Each buyer has invested at least US$1 million with the firm.”

    According to Hussein: “We have invited all investors with similar complaints through advertisements in local newspapers to come forward, and have assured them that RERA will play an active role in safeguarding their money under law number 8 in line with the directives of Dubai’s ruler Sheikh Mohammed.”

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , , , , | Comments Off on Dynasty Zarooni Chairman – Criminal Business Partner of Al Fajer Properties Dubai – arrested

    The False Story ? Mumbai Mirrow – Dynasty Zarooni Dubai

    Posted by 7starsdubai on August 26, 2008


    original published Mumbai Mirrow

    Kabir Mulchandani, owner of Baron International, the company that pioneered cheap colour TVs and music systems under the brand names AIWA and AKAI, and who fled Mumbai after scrutiny by the DRI and Enforcement Directorate, is once again at the centre of controversy.
    This time in Dubai.
    Mulchandani had left Mumbai for Dubai where he set up a company, Dynasty Zarouni, to cash in on Dubai’s booming real estate market.
    He markets ready-to-move in properties constructed by a real estate company called Al Fajer.
    Mulchandani advertises these properties on his website and invites NRIs to invest money.
    Al Fajer is known for its projects in Jumeirah Business Centre 1 and 2 apart from various projects at Jumeirah Lakes and Jumeirah Island.
    But now Dubai’s Real Estate Regulatory Authority (RERA) is probing Mulchandani’s operations after nearly 30 NRIs from India, Russia and UK complained online that he had misled them by showing a different property and selling them another
    RERA authorities told this newspaper that Mulchandani’s firm had also not followed the local rule of depositing sale proceeds of real estate properties into a government-shared escrow account and instead pocketed the entire money.
    At least 20 NRIs, originally from Mumbai, had invested money ranging from US $1 million and above in residential-cum-commercial properties developed by Al-Fajer and marketed by Mulchandani.
    The smallest of these properties is approximately 5000 square foot.
    One particular complaint cites how Mulchandani allegedly sold apartments in a three-tower complex, showing the two completed towers as the properties that were for sale but allotting ownership documents of the third tower which has yet to come up.
    Speaking to Mumbai Mirror RERA’s head of legal cell, Imad Husein said, “We have received complaints of 30 investors from India, Russia and the UK. Kabir’s company Dynasty Zarouni offered real estate properties at half the market price.
    It also allegedly lured investors by misrepresenting a different property in the name of another. Each buyer has invested at least one million US dollars with Kabir’s firm.”
    According to Husein, “We have invited all investors with similar complaints through advertisements in local newspapers to come forward, and have assured them that RERA will play an active role in safeguarding their money under law no 8 in line with the directives of Dubai’s ruler Sheikh Mohammed.”
    Husein said, Mulchandani’s operations through Dynasty Zarouni involve sale of over 20 towers each consisting of 40 floors, approximating 20,000 residential and commercial units.
    The RERA official said Dynasty Zarouni was also under scanner for irregularities in fund management.
    “As per the rules of the Emirates, the money received from investors has to be deposited in an escrow account jointly held by the government with the developer.
    The money is released only on delivery of the property.
    Kabir Mulchandani and his company did not deposit money in the escrow account and hence it results in a case of breach of contract,” Husein said, adding that in such a scenario the developer may vanish leaving investors in lurch.
    One of the NRIs, originally from Mumbai, who has filed a complaint with RERA said, on condition of anonymity:
    “I was devastated to find that it is illegal for Dynasty Zarouni to collect money without the existence of an escrow account.
    Not only does this leave my funds unsecured, in addition I have just been told by Al Fajer properties, the developers, that the total area being committed to me in the contract provided by cis inaccurate and is exaggerated by 30 percent,” the NRI added.
    Mulchandani could not be contacted.
    original published: Munbaimirrow.com
    also published: zawya.com

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Tagged: , , | Comments Off on The False Story ? Mumbai Mirrow – Dynasty Zarooni Dubai

    Gulfnews: Dynasty Zarooni gets clean chit

    Posted by 7starsdubai on August 26, 2008


    Dynasty Zarooni gets clean chit

    By Saifur Rahman, Business Editor
    Published: August 25, 2008, 23:12

    Dubai:

    Dynasty Al Zarooni Real Estate is considering legal action against some Indian publications and those behind an alleged ‘smear campaign’ to malign its reputation, officials said.

    The campaign has allegedly been launched by a former employee of Kabir Mulchandani, chairman of Dynasty Zarooni, who was fired for alleged ‘wrongdoing’, Gulf News has learnt.

    Two Indian publications ran reports referring to some investors’ complaint that “he [Mulchandani] had misled them by showing a different property and selling them another”.

    One of the reports said “Dubai’s Real Estate Regulatory Authority [Rera] is probing Mulchandani’s operations after nearly 30 NRIs from India, Russia and UK complained online”.

    Dynasty Zarooni, formed in 2005, is a joint venture between Hilal Al Zarooni and Kabir Mulchandani. The company has been engaged in developing, buying and selling residential and commercial properties to wholesale investors and cashing in on soaring prices and growing demand that fetched solid returns.

    “Dynasty Zarooni, having a real estate portfolio in excess of Dh20 billion, has been the target of a series of false accusations in relation to complaints from investors, with regards to their Ebony & Ivory project in Jumeirah Lakes Towers,” the company said in an e-mailed statement

    The project is being developed by Al Fajer Properties, a leading property developer in the UAE, managed by its president Shaikh Maktoum Hasher Al Maktoum.

    Over the past week there have been a number of internet blog stories and these culminating with a article in the Indian media, incorrectly quoting Rera officials, the company said.

    The Ebony & Ivory development project is a Dh2.7 billion project, which was originally sold out within hours of its launch. “To date, the construction of all of the towers being developed by Al Fajer Properties is progressing rapidly,” the statement said.

    Meanwhile, the Rera has given Dynasty Zarooni a clean chit.

    “Dynasty Al Zarooni Real Estate has no violations relating to the registration of property brokers until August 25, 2008,” Rera said in a letter yesterday, a copy of which was obtained by Gulf News.

    Hilal Al Zarooni, president of Dynasty Zarooni, told Gulf News, “We are pursuing legal action against those who are behind this campaign that is damaging our reputation.

    “These imposters have not only targeted Dynasty Zarooni, but the UAE real estate market as a whole. The imposters should be brought to justice.” he said.

     

    see also Video TV Agust 2008

    http://www.zawya.com/video/default.cfm/sidVID20080826112123

    Posted in Dubai, Jumeirah Business Centre, Kabir Mulchandani | Comments Off on Gulfnews: Dynasty Zarooni gets clean chit

     
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