Two Arab men have been condemneds for cheating an investor out of 422,000 dirhams, after being offered the chance to invest in a real estate project in Turkey. In total, they defrauded about 600 people and fraudulently obtained 300 million of dirhams.
He Misdemeanor Court of Dubai He sentenced them to one month in prison and ordered them return the amount fraudulently seized. This verdict was confirmed by the Court of Appeal.
According to police records, an investor filed a complaint stating that he had been defrauded by a real estate developer for a project out of the country. He said that he had contacted the two defendants because they claimed that they were the managers of the real estate companyso he could comprar a property. They suggested that he buy a house in Turkeyto which he agreed.
However, the company did not comply with the terms of the contract and the investor did not receive access to the property. When the two defendants continued to adjourn and he was unable to gain access to the property that he allegedly had purchased, he filed a police report.
Investigations revealed that the company was false. he had established workshops in all emirates and had published adverts in various newspapers as a means to promote projects fictional out of the country.
The convicts, through the false company, were able to defraud some 600 investors and fraudulently obtain a total of 300 million dirhams.
