News
Court Freezes Waseem Ahmed Elsae Accounts Over Fraud, Tax Evasion
The High Court has Frozen the accounts of Ahmed Elsae, an Egyptian businessman who allegedly defrauded some International investors USD 1,040,000 in a real estate fraud.
While granting the order, the Judge noted that , the businessman accounts were questionable hence subjected them to the investigations.
While responding to the court orders, the investors (PQ) through lawyer Danstan Omari noted that Mr.Waseem Ahmed Elsae through his companies ; GRAND PREMIER APARTMENT through AAD REAL ESTATE situated in Lavington was behind the fraud.
” The international Investors trusted one Mr.Waseem Ahmed Elsae through AAD REAL ESTATE who promised to hand over both residential and commercial properties by December 2023 but to date the projects remain a ghost – town and he has declined to provide sufficient reasons,” Omari said.
The said firm has engaged the investors with the idea in how to avoid paying tax but they alledgly declined.
The matter is in court and will proceed to further hearing on January , 2025.
More to follow….
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