British agent jailed in Dubai for bouncing cheques

The high-flying overseas property agent who bought the “Britain” island in Dubai’s the World project is facing a seven year jail sentence for writing bad checks.

According to the Guardian, Safi Qurashi from Balham in South London has been convicted of signing cheques worth more than £50m without sufficient funds and cancelling another cheque as he moved to complete a number of property deals.

Qurashi founded beach-property specialist, the Premier Real Estate Bureau in 2005 and grew the business to a turn over £400 million, employing 80 staff before the bottom fell out of the market.

His conviction comes just two years after he shot to prominence when he purchased the “Britian” island for £43 million, appearing on a UK network TV show, Piers Morgan On Dubai.

Qurashi has been one of only a few purchasers of islands from the mad-made archipelago, which now largely deserted has become a symbol for the excesses of the overseas property boom.

“Miscarriage of justice”

Qurashi is appealing to the emirate's royal ruler, Sheikh Mohammed bin Rashid al-Maktoum, claiming that his convictions are the result of a miscarriage of justice.

His defence insists that although by the strict letter of the law, the cheques bounced, the trial took no account of the circumstances and evidence surrounding the case.

Qurashi's legal team claim the bounced cheques were part of a security deposit but should never have been cashed because Qurashi did not owe the money, as the property deal concerned had already completed.

Qurashi is being held in Dubai's central prison. His wife and three young children are permitted to visit him once a week. He is due to appear in court next month to appeal against his sentence.

Source: Global edge

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