A man of Lebanese origin posing as a UAE-based property developer has 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," Fareed Al Hassani, an Omani businessman, told The National.
"He also told us he was Lebanese with [a] Swedish passport," said Mr Al Hassani. The con artist even showed the investors a 3D presentation of the property, located in Jumeirah and still under construction.
"I paid him a cheque of 15,000 rials as a deposit and he gave me a receipt," Mr Al Hassani added.
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 for himself before giving the man a cheque for 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, another conned Omani businessman.
"Al Firdaus Dubai Properties is not a registered UAE company. My lawyer in Dubai found out he [the con artist] was a regular visitor to the UAE and left the country in December."
The investors have not heard from the man again. A law office in Muscat that is representing six of the investors said he got away with about 450,000 rials.
Police are investigating the claims and charges have been brought against an Omani businessman who the duped investors say recommended the con artist to them.
Both police and the Omani businessman declined to comment.

Source : The National