By Shane McGinley
Investors claim they were duped out of AED9m by firm using Minissha Lamba’s name
Bollywood actress Minissha Lamba has hit out at fraudsters
who allegedly used her name to extort more than AED9m ($2.45m) from investors
as part of a UAE-based property scam.
At least twelve investors, including Emirati businessman
Ahmad Al Falasi, are locked in a legal battle with Stallion Properties, who
they say convinced them to buy real estate in Ras Al Khaimah after falsely capitalising
on the names of Lamba and Hollywood actress Tara Reid.
“It’s a really sad state of affairs to dupe people like
this,” Delhi-based Lamba told Arabian Business.
Tara Reid’s publicist did not immediately respond to
requests for comment.
The AED1.2bn Greek-style Santorini island resort,
located off the emirate, was due to be finished in 2011 but construction has
yet to begin.
At the project’s 2008 launch, it was described as “luxurious
villas, townhouses and condos in an enviable location just off the northern tip
of the United Arab Emirates.”
The victims claim they paid more than AED9m ($2.45m) for
units on the development and were swayed by claims the high profile female
stars would be potential neighbours.
Three Indians have been jailed over the alleged scam, but
the three-year sentence is being appealed.
The twelve investors are also pursuing an ongoing civil case
against Stallion Properties.
I regret to comment that this not the only case in the U.A.E there are thousand such cases, We can do nothing about it as the law is in favour of the developers.
who would be convinced of buying property because of Tara Reid?
Sadly just one of the many property scams in the UAE. One trick was to use glamorous stars and their names to sell property which never saw the light of day. Would be interesting to see how much money was lost over these scams.
On a separate note:
Why is everyone in India that happens to have a part in any film named a "Bollywood Star"?
You wouldn't find some guy that had a bit part in an American film a "Hollywood Star". They churn out a gazillion movies a day and every pretty face that a director notices on the street, regardless of talent gets a shot at a film. Weird.