BL Properties looted millions from investors in UAE
This should be the headlines in any major newspaper, some of us has contacted the media, might get some help, but this should not stop any one from knocking the door of any contact you have, even if i have this feeling that my money is gone, i will not rest in peace till i see these fraudsters in jail, would be nice if we could get some help from our Pakistani investors who are based in pakistan, GUYS REMEMBER DONT WAIT FOR SOMEONE TO DO SOMETHING THAT MIGHT HELP TO GET YOUR MONEY BACK, TRY TO DO CONTRIBUTE AND THIS WILL HELP TO GET YOUR MONEY BACK. PLEASE FIND BELOW WHAT TRANSPIRED IN THAT GATHERING WE HAD COUPLE OF WEEKS BEFORE.
We met as sceduled at ARRA, 4 investors were present. In regards to ARRA the situation has not changed, the have not yet disclosed if there is any money in their ARRA account. More than this they cannot do anything else, (since there is no clear property law for foreign investors- ARRA dosent have a role to play) On a different note they said they MIGHT initiate their own legal proceedings. So we went to the police station, the police directed us to register our complaint with the court, we went to the court, they asked the following form us.
1. all doccuments require translation (in my case the amount was estimated to be 5000 dihrams)
2. Need to make a complaint in arabic, and than the judge will decide if it is a civil or criminal case,, definately it is civil because we need our money back, we can file an additional criminal case if we like to get them behind the bars.
3. when it is decided that the case is civil, 5% of the claiming amount should be deposited to the court as court fees,
4. Lawers fees to charged (but wont be more than 5000 dihrams.
when this stage is compleated the court will send notice to BL properties in their last registered adress, and will subsquently notify, chamber of commerce, land department, traffic department police ETC to freeze any assets owned by BL properties, after 6 months the court will decide to auction off the assets and the money will be distributed to the ones who filed the case.
NOW IT IS UP TO THE INDIVIDUAL TO TAKE ANY COURSE OF ACTION, if you decide to take the legal action. (THERE ARE SOME INVESTORS WHO HAVE FILED CASES ON BL PROPERTIES THEIR NAMES WERE NOT DISCLOSED,)
but this should not stop any of you to register your complaints with any agencies, embassies, foreign offices, etc. any media attention would be helpful. looks like it is slipping out of our hands and each one has to contribute in some way.
all the best