FILE – A Union Properties construction project in Dubai Motor City sits unfinished for years in Dubai, United Arab Emirates, Sunday, Oct. 24, 2021. A troubled Dubai real estate developer said Monday, March 28, 2022, it suspected $42 million had been “misappropriated” by the company’s former officials while declaring it massively overvalued its holdings. (AP Photo/Jon Gambrell, File)
(AP Photo/Jon Gambrell, File)
DUBAI, United Arab Emirates (AP) — A troubled Dubai real estate developer said Monday it suspected that $42 million had been “misappropriated” by the company’s former officials while declaring it massively overvalued its holdings.
The announcement by Union Properties comes as Emirati prosecutors
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