Residents warned against fake website

dubai — A fake website of an investment company has been created under the name of Hussain Sajwani, chairman of Damac Properties. UAE residents have been asked to treat it as a fraudulent attempt to misguide investors.

Sajwani tweeted that the matter has been reported to concerned authorities in the UAE and abroad and any company or person dealing with this entity is doing so at their own risk.

“This fraudulent website, www. sajwaniinvestmentgroup.com, is deceptively presenting itself as an investment firm owned and managed by Mr. Hussain Sajwani. This claim is false and the website’s reference to Mr. Hussain Sajwani should be treated as a fraudulent attempt to mislead investors,” the UAE billionaire tweeted from his official Twitter handle @hussainsajwani on Sunday.

The Damac chairman has been ranked among the world’s 500 richest people. According to Bloomberg’s latest rank released last week, Sajwani was ranked third in the UAE with a net worth of $4.96 billion and ranked 385th globally. Apart from Damac Properties, Sajwani owns Nine Elms Property Ltd, Dico Investments Co. LLc, Al Anwar Ceramic Tiles Co., Al Amana Building Materials and Al Jazeira Services Company SAOG.

Sajwani tweeted that this “website has been reported to the proper authorities internationally and in the UAE including Dubai Police”.