As Dubai Implodes, The Race Is On To Charge Foreign Businessmen With Crimes

The Business Insider ^ | 12/28/09 | Joe Weisenthal

[FromLori]

Six ex-Nakheel employees accused of shady dealings at the famous "The World" islands

We wonder if the Dubai government isn't hoping to pin as much mess as possible on the expat businessmen who flocked to the country during the boom years.

Six foreign businessmen, including a Brit, a Canadian, a Russian, and a Bangladeshi, all ex-Nakheel employees, are being tried for fraud.

Emirates Business 24/7:

The case is related to an on-going case of financial embezzlement at real estate major Nakheel. The main accused in the case is Canadian, SR, 31, a sales consultant at Nakheel, who is accused of accepting a Dh22 million bribe and harming the interests of Nakheel, which lost Dh10.989m as a result.

Second and third defendants – Canadian, LS, 59, partner, and British, BS, who is at large – are accused of offering a Dh16.668m bribe to the first defendant in return for enabling them to reserve islands at The World Islands offshore development with numbers D33, D45, D92, G2, G5 and G7 without obliging him to mention the name of the purchaser on a purchase form and without signing the contracts of reservation for the islands.

The fourth defendant, AS, Bangladeshi, who is also at large, is accused of offering a Dh2.731m bribe to the first defendant in return for enabling him to reserve islands with the numbers D86, D74 and D75 also without the purchaser's name being mentioned on the purchase form and without signing the islands' reservation contracts.

[FromLori]

Guess when you do business with the devils who were slave masters well

ping related

http://www.business24-7.ae/Articles/2009/12/Pages/27122009/12282009_cabc5e0a704a42b4a503d62d982f0203.aspx

[Buckeye McFrog]

This is a ripe plumb ready to fall for the Jihadis. As their economy collapses and living standards for the average person fall they will rush in and blame “the infidel userers” for causing this problem (not too dissimilar from the campaign the Democrats are likely to run here next year). If I were a member of Dubai Royalty I think I’d be making a long-term booking at a Swiss Chalet.

[FromLori]

Doesn’t surprise me one little bit they would do this but interesting to note all the big shots who bought places there like brad pitt and we never heard a peep from hollyweird about the slaves being used to build it.

I don’t know do you think they are really scared they have the weapons and the control and will just kill the people.

[aviator]

A friend of mine has $60,000 paid down on a condo that hasn’t been built yet there. He is not happy.

[GonzoGOP]

A friend of mine has $60,000 paid down on a condo that hasn’t been built yet there

May as well consider that 60k gone. I doubt that much more will be done on those projects for a decade or more. With the companies already in default no bank is going to be in a rush to lend them the money to finish the project.

[caver]

This will do a lot for future business. NOT.

[razorback-bert]

I read that the movie stars and football stars were given their houses.

[FromLori]

hmmm either way slave labor was used but

http://www.thisislondon.co.uk/standard/article-23776330-actors-and-chefs-among-investors-set-to-lose-millions-in-dubai-crisis.do

[SunkenCiv]

We wonder if the Dubai government isn't hoping to pin as much mess as possible on the expat businessmen who flocked to the country during the boom years.