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03 March 2024

Property swindlers nabbed in Abu Dhabi

By Staff

Abu Dhabi authorities smashed a Western embezzlement ring that stole nearly Dh3 million from 40 people after selling them fake contracts for property ownership in London , a newspaper reported on Monday.

The swindlers from an unidentified European country had lured in their victims by publishing advertisements in local newspapers for attractive real estate deals in north London at prices of as low as Dh30,000-6,0000 per metres, the semi official Arab language daily Alittihad said.

“The public prosecutor in Abu Dhabi ordered the imprisonment of the defendants and the arrest of their accomplices,” the paper said.

It quoted police as saying the defendants belong to an Abu Dhabi-based company which has not licence to deal in property.

“Police found that this company is not authorized by the landlords in London to sell their property and that employees at the company were getting five per cent commission for each transaction,” the paper said.

It said the prosecutor has asked the Central Bank to freeze all the assets of that firm and contacted the Interpol to seize the remaining accomplices.