Real Estate Fraud Nabbed For Swindling Many Kuwaitis Offering Property In US
Category: Crime News

Personnel from the Criminal Investigation Department (CID) have arrested a citizen working in the real estate field and promoting real estate in the United States of America for swindling a number of Kuwaiti investors, reports Al-Qabas daily. The fraudster was allegedly doing the disappearing trick after receiving down payments from his victims. Informed sources said the accused succeeded in persuading his clients to buy a villa in the United States overlooking the lake, and showed video clip showing the level of the villa and its picturesque location.

The fraudster would also convince his victims that after registering the villa in the name of the owner, he would rent it out on his behalf and that the rental rate in this prime location was 700 dinars monthly and added the villa’s total value ranges between 80,000 and 100,000 Kuwaiti dinars only.

The sources added one of the clients from the heirs of a businessman paid money in advance to the accused person in exchange for buying seven villas for investment, and after receiving the money, he disappeared and it was not possible to communicate with him, forcing the payee to inform the security authorities. The daily added, the suspect was caught inside a livestock pen in Kabad and it has been reported the victims have, one by one, started filing complaints against him.



17 Jan, 2021 270
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