Dubai’s Second Chances Reward Ex-Prisoner Turned Builder - Bloomberg

Dubai’s Second Chances Reward Ex-Prisoner Turned Builder - Bloomberg:



"Dubai’s boom-and-bust real estate market can land you at the wheel of a Rolls-Royce or behind bars. Kabir Mulchandani should know: he’s experienced both. 




Five years after spending 140 days in jail facing charges of fraud and embezzlement for which he ultimately was cleared, the chairman of developer SKAI Holdings stands at a building site watching cranes start work on one of the company’s three projects. They will have a combined value of about 6 billion dirhams ($1.6 billion) when completed.



“I guess the beauty of life is its uncertainty,” said Mulchandani, 42. “I went from making corporate deals, hanging out on a yacht and living in Emirates Hills to sharing a jail cell with eight others.”

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