Words: Ashley Rigg
Published: 8th September 2009
Property CEO arrested for fraud
The Chief Executive of Lake View Real Estate in the UAE has been arrested on suspicion of fraud following complaints by around 30 investors.
Investors put money into a five-tower project in Emirates City in the emirate of Ajman but work stopped on the project at the beginning of the year. The investors “lost contact” with the CEO around the same time.
The Indian national was arrested after a criminal case was filed against him for fraud.
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