Damac chairman issues warning about ‘fraudulent’ website

Hussain Sajwani, head of the Dubai developer, says scam site claimed to represent investment firm he owns

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The chairman of Dubai property developer Damac has issued a warning about a ‘fraudulent’ website that allegedly claimed to represent an investment firm he owns, according to a statement issued on December 31.

Hussain Sajwani – chairman of Damac Properties, DICO Investments and various other holdings – said he “wishes to alert customers, business partners and the general public about a website claiming to represent an investment firm owned by” him.

The “fraudulent” website “is deceptively presenting itself as an investment firm owned and managed by Mr. Hussain Sajwani. This claim is false and the website’s reference to Mr. Hussain Sajwani should be treated as a fraudulent attempt to mislead investors,” a statement said.

The website in question appears to be no longer accessible.

“This website has been reported to the proper authorities internationally and in the United Arab Emirates including Dubai Police,” Sajwani’s statement said.

“Any individual or organisation conducting business with this firm through its website is doing so at their own risk.”

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