Court hears Dh102m property swindle case

An Abu Dhabi criminal court has started hearing a case involving the embezzlement of Dh102 million from individual investors by three Arab expatriates, the Arabic language daily Al Khaleej reported on Saturday.

At its session on Thursday, the court received complaints from 19 people who said they had been deceived by the three expatriates through a non-existent investment company, the paper said.

“The court heard the so-called ‘property portfolio case’ and decided to postpone its session to November 30 so other persons who have been swindled by that company can file complaints,” it said.

Al Khaleej quoted court sources as saying the unidentified three men had embezzled nearly Dh102 million from many persons in the emirate by promising them of high return on their investment in real estate.