A Multi-Milliard Rial Scam By A Baha’i Company in Dubai

Originally appeared in the Persian language ‘Asr-i-Iran 26th of Isfand 1387 (solar) = Monday, March 16, 2009 CE
http://www.asriran.com/fa/pages/?cid=67633

After the passage of 20 months it is established that this company not only did not build a single tower/high rise, but didn’t even obtain the properties for their construction! In an unprecedented scam involving the amount of 2,150 milliard rials (which was  taken from Iranians who had invested money for the purpose of obtaining property in Dubai), a high-rise/tower construction development company connected to the Baha’is in the United Arab Emirates has committed fraud.

According to reports by [the newsagency?] MAWJ (wave), approximately 20 months ago the company ‘Reliance’, which is connected to two Baha’is by the names of Farhang Rahavi and Elham Sabeti, took money from Iranians in a pre-sale/‘on plan’ venture capacity, which involved 60 percent on the sale value [of properties], totalling 724 million dirhams (equivalent to 1,950 milliard rials).

With the sale of two [corporate] projects (a German named ‘Solar Star’ and the Emirati named ‘Al-Mahara’), this company as well demanded the sum of 75 million dirhams (equivalent to 200 milliard rials) from Iranians for the purpose of buying property, and obtained it.

Farhang Rahavi, who is an Iranian national with an American passport, then traveled to Dubai with the aim of organizing an association for the defense of the misled Baha’i cult. He – who sometime before, due to his involvement with other fraudulent ventures, had earlier fled Iran – married Elham Sabeti (the former wife of Dr. Mahbubi, i.e. the community head of the misled Baha’i cult in Dubai), and with the company named ‘Reliance’ entered the real estate property market in Dubai.

This company, in pursuit of illegal transactions, then obtained the sum of 2,150 milliard rials from Iranians for 22 completed towers/ high rises with the two German and Emirati [corporate] projects.

It should be mentioned that amongst this collected sum approximately 1,110 milliard rials (equivalent to 112 million US dollars) has been transferred out of the United Arab Emirates and over to the United States of America.

The buyers [i.e. investors] are of the opinion that through the agency of one individual named Pezhman Riazati, who is also a Baha’i, their money was sent out of Iran over to the United Arab Emirates and then transferred to the United States.

The defrauded Iranians in seeking redress with the legal courts of the Emirates are as yet unsuccessful in obtaining hearings, and moreover their cases presently stand in a state of limbo. Some of the bigger Iranian real estate companies in Dubai, who likewise had dealt with this company in the past, at the present time have also not been able to contact the company owners of ‘Reliance’.

A few years ago, in regard to foreign investments and transactions in Iran, the Chief Justice of our nation had in some cases specifically warned about unknown companies without identity.

* ‘Kollah-bardari’ (literally. ‘taking the hat off’) is translated interchangably as ‘scam’ and ‘fraud’.



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