Investors in Emirates City, a project in Ajman UAE, have laid complaints with police against one of the developers, Lake View Real Estate, which they allege took their deposits but has failed to begin construction work.

Many investors said they paid more than 40 per cent in a five-tower project within Emirates City, along the Emirates Road in Ajman, but little progress has been made on development.
The group also alleges that the chief executive of Lakeview, Aman Qureshi, has been out of contact for months.

“I am in touch with 67 investors,” said Nasar Haq, a founder member of the investors’ group, who bought a floor in Lakeview Tower 5 in April. “I keep on getting inquiries, calls from all over the world. Nothing has been built so far, and Aman Qureshi, the owner of the company, is nowhere to be found.”

Salah al Din Arif, another investor, bought a flat in Aug 2007 that was scheduled for delivery in November this year. He has paid 41 per cent so far: “I visited the project site in March 2009 and was shocked when I found that nothing at all was done despite regular paying.”
In the meantime, investors say the company has continued to cash their post-dated cheques, a violation of Ajman’s recently introduced property laws.

LakeView investors open police case against developer - The National Newspaper