Con man dupes investors out of Dh4.3m for flats
Lebanese man made phony Dubai proposals look real
MUSCAT // A man of Lebanese origin posing as a UAE property developer proved to be a con artist after collecting 450,000 rials ( Dh4.32 million) from 22 Omani investors as deposits for three-bedroom flats in Dubai. Investors who were duped said he claimed to be partners with a member of Dubai’s ruling family when they met at an office in an upmarket area of Muscat in August last year.
“His business card showed his name was Fahad Al Ahdad. He said he was a property developer and partner of a company registered in the UAE called Al Firdaus Dubai Properties,” said Fareed Al Hassani, an Omani businessman. The con artist even showed the investors a 3-D presentation of the property, located in Jumeirah and still under construction.
“I paid him 15,000 rials as a deposit and he gave me a receipt,” Mr Al Hassani said.
Another victim, also a businessman, arranged to meet the con artist at an office in Dubai in September last year to see the block of flats before giving the man 15,000 rials.
“It all looked legitimate. He was with an Egyptian woman who he said was his executive assistant and another Lebanese man who was supposed to have designed the property,” said Khamis Al Mahroosi. In November, alarm bells started to ring for Mr Al Hassani and Mr Al Mahroosi when their promised provisional title deeds failed to arrive a month after they had made their first payments on the properties.
“The office in Dubai was rented by another man, who said he knew nothing about the deal,” said Mohsin Al Soomali, a conned Omani businessman. “My lawyer in Dubai found out he was a regular visitor and left the country in December.”
The investors have not heard from the man again. A law office in Muscat representing six of the investors said he got away with about 450,000 rials. Charges have been brought against an Omani businessman who recommended the con artist to them.
Investors said he claimed to be a partner with a member of ruling family