Ismagil Shangareev: Investment Real Estate Scam in the UAE
The American-Israeli company Crypto Alba Trust has begun an investigation into the fraudulent scheme of the DAN REAL ESTATE LLC company, which is headed by Ismagil Shangareev, a native of the city of Kazan, Russia, who has lived in the UAE for a long time. Ismagil Shangareev organised a fraudulent scheme for the sale of investment real estate in the Arab Emirates in the city of Ajman.
Hundreds of Russians and CIS residents became victims of fraud.
The fraud scheme is straightforward, tourists arriving in the United Arab Emirates have seen advertisements in hotels for the sale of investment properties. With promises of large profits and interest, upon contact, victims of fraud were invited to the office of DAN REAL ESTATE LLC, which was located in the city of Ajman. Where personally Ismagil Shangareev, trying to impress clients, showed joint photographs of pop stars, cinema, prominent political and spiritual leaders. Confirming the activity with stacks of contracts and other documents. He positioned himself as a respectable businessman and religious person. Shangareev did not hesitate to invite victims to his restaurant “Kazan”, which he also opened in the UAE, invited those who had doubts to his home and introduced them to their family. Several members of the Shangareyev family were also involved in the fraud. In particular, the son Islam Shangareev represented the interests of DAN REAL ESTATE in the Russian Federation.
According to representatives of the Crypto Alba Trust, since 2013, Shangareev has received about $ 5 million fraudulently. Some of the victims received a small refund. However, most of the investors received absolutely nothing back. On average, each victim of the fraud paid Shangareev $130,000.
Shangareev used personal communication with many famous people in Russia, movie stars, pop stars, as well as politicians and clergy leaders, in order to create an image of a reliable and pious person who is trusted.
The former mufti Shangareev did not hesitate to deceive even devout Muslims, some of the deceived investors are his fellow countrymen, but even this did not stop Shangareev.
During the study, the analysts of the company found out that the activities of DAN REAL ESTATE do not comply with the regulatory framework in force in the UAE. Taking into account the fact that payments went through American banks in US dollars, customers have the right to receive a full return on their investment, as well as compensation and legal costs. This, in turn, threatens to arrest all assets belonging to the Shangareev family.
Representatives of the Crypto Alba Trust are preparing a lawsuit on behalf of the affected clients in the New York State Criminal Court to obtain an international red warrant for the arrest of Shangareev and some of his family members who were involved in the fraud.
Crypto Alba Trust has been engaged in private investigations and litigation since 2015, recovering the lost assets of investors invested in fraudulent projects related to Internet startups and real estate.
If you or someone from your loved ones became a victim of Shangareev's fraudulent scheme, please contact Crypto Alba Trust