Tycoon blew nearly AED1bn of investors’ money, court hears
By Rob Morris on Jun 07, 2010
An Emirati property tycoon who embezzled nearly AED1bn from 3,700 investors blew the money on boats, luxury cars and parties.
An Emirati property tycoon who embezzled nearly AED1bn from 3,700 investors blew the money on boats, luxury cars and parties.
A high-ranking official at ADCED insists Emiratis have nothing to fear from an expected rise in expats.
Having helped build the country’s economy, expatriates should be allowed to live permanently in the UAE.