Dubai: Police Arrest Indian Origin Fraudsters

DUBAI, Jan 10: Dubai Police have arrested a syndicate of tricksters of India origin, who have been operating in pretext of being real estate developers.

The Indian national arrested are Kabir Mulcandani, a UAE national Hilal Al Zarouni and two other employees of ‘Dynasty Zarouni’ a company located in Jebel Ali for issuing bouncing cheques to different nationalities mainly Indians.

Colonel Khalil Al Mansouri, Director of General Department of Criminal Investigation confirmed the arrest to Khaleej Times on Thursday.  The officer said the fraudsters are in police custody and assisting in investigations, adding that they will then be referred to the Dubai Public prosecution for further action.

Police sources said that they had received more than forty complains of different fraud cases against the suspects at various police stations and all cases were then referred to the General Department of Criminal investigation. Rajish and Alkopatra used to work as Finance Managers for the company.

While Mulchandani and his accomplice used to convince ‘potential’ investors that they were licensed to invest money and were a real estate developers.  They called on people to invest Dh 300, 000 every month and after paying 6 installments, the investor would get Dh1 million in return.

However, after the investors paid all the installments, Kabir did not show up but went into hiding, until police smashed the racket upon their arrest.

Salim Al Sha’ali, a lawyer for the suspects, told Khaleej Times that in order to convince their victims, the company announced massive media advertisements and introduced websites stating that they had successfully invested in development of real estate projects in the UAE.

The company claimed that their total investments reached Dh40 million realizing a revenue of Dh2.8 billion.


Top Stories

Leave a Comment

Title: Dubai: Police Arrest Indian Origin Fraudsters

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.