A company defrauds dozens of victims with a huge advertising campaign for a fake housing project

The Dubai Misdemeanors Court convicted the owner of a well-known real estate brokerage company, who set up offices for it in several emirates

The Dubai Misdemeanors Court convicted the owner of a well-known real estate brokerage company, who set up offices for it in several emirates, published advertisements in the media and social networks for a huge housing project in one of the European countries, and sold real estate units to more than 500 investors.

The Public Prosecution directed the owner of the company and its marketing director to commit a misdemeanor of fraud using documents confirming the correctness of the project procedures, but it was later found that there was no building permit from the authorities of that country, and that the company did not have a license from the Real Estate Regulatory Authority in Dubai to receive monthly installments, being just a brokerage company. real estate.

In detail, the misdemeanour court ruled to imprison the company manager and employee for three months and a fine of 672,308 dirhams in a lawsuit from only one victim out of the total victims who bought in the project, but the employee appealed before the Court of Appeal, which ruled his innocence.

The victim stated in this lawsuit that he signed a contract to purchase a housing unit in one of the European countries for 176 thousand and 400 dollars from the fraudulent company, and paid 308 thousand and 672 dirhams of its price, provided that he receives the apartment within three years, but he discovered that the company had not completed any of the stages The project.
An official letter from the authority authorized to grant building permits in that country proves that the land on which the company claimed to establish the project is not licensed for construction, use or reconstruction.