Developer faces fraud charge

The chief executive of Lake View Real Estate, the property developer behind a five-tower project in Ajman, has been arrested on suspicion of fraud, Dubai Police have confirmed.

Up to 30 investors in the project in Emirates City, Ajman, lodged police complaints against AQ, an Indian national, claiming to have lost track of him at the beginning of the year, when work on the towers apparently came to a virtual stop. AQ was arrested on August 24 at the Rifaa police station in Dubai after a criminal case was filed against him.

“This person has been transferred to the Central jail,” said a source at the Rifaa station, who also confirmed the case number.