UAE Property 24|7 - Educating Investors!

Dubai Property Scam: Firm Owner Fled With Millions

Dubai Property Scam: Millions of dirhams, 80 unpaid employees for 3 months, Employer Flees Dubai.

In a recent news break about Dubai property scam by one of the lading news websites of the region (Emirates 24/7), it is claimed that a British property firm owner fled Dubai overnight with millions of dirhams. The staff of the company that is estimated to be 80 employees in total has been unpaid for last 3 months.

Going through the details of the news, the name of the company mentioned is Smith & Ken. If memory serves right, the company had filed for bankruptcy and closed down in June, 2015. The reason given by the company for closing down was bad situation of real estate market in Dubai.

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