36 American Investors Victimized By Fraud in the U.A.E.
Legal Complaint Alleges Scam Designed and Executed by High Ranking Officials in the United Arab Emirates (U.A.E.)
American Gulf Insurance Corporation, (AGI), an insurance company organized to conduct business in the U.A.E., has filed a lawsuit in Florida state court, seeking compensatory and punitive damages for conspiracy, fraud, civil theft, kidnapping and false imprisonment against highly placed government officials of the United Arab Emirates and Abu Dhabi, who also are affiliates of the Royal Family of Abu Dhabi. Information about investing in UAE fraud
"This is a cautionary story of fraud and criminal behavior - - including embezzlement from AGI's business bank accounts in the U.A.E., forgery of signatures and the creation of falsified bank statements perpetrated by prominent people affiliated with the Royal family of Abu Dhabi, according to Howard Fensterman, managing partner of Abrams Fensterman, a law firm located in New York City and on Long Island, a businessman, and an investor, who, in addition to investing his own money in the AGI offering, raised a majority of the money that was embezzled from more than 30 other American investors.