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Thursday , September 23 2021

Real estate firm cheats clients of KD 200 mln

KUWAIT CITY, June 24: An unidentified real estate company cheated 1,950 clients to the tune of KD 200 million, reports Al-Qabas daily. An official document obtained by the daily indicated the company in question lured clients to invest in projects across Turkey, Germany, USA and Britain for 20, 28, 124 and 310 percent profit margins in the first, second, third and fourth years respectively. However, the signatures of some clients were missing from the contracts and the company refused to refund sums they have paid. It only paid back the influential clients among those cheated in full to avoid clashes.

 

By Munaif Nayef/Mishal Al-Sanousi
Al-Seyassah Staff and Agencies

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