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Court frees Indian businessman over alleged N120m fraud

By Msugh Ityokura, Abuja
13 November 2018   |   4:02 am
The Federal Capital Territory (FCT) Abuja High Court yesterday discharged an Indian national, Gulati Ankit, held on behalf of DAMAC Star Properties LLC, Dubai, in an alleged $350,000 (about N120 million) property fraud. Profitel Limited, a Nigerian company, had in 2015 sued DAMAC Star Properties LLC for alleged breach of contract and swindling of a…

FCT High Court. Photo: Hotels

The Federal Capital Territory (FCT) Abuja High Court yesterday discharged an Indian national, Gulati Ankit, held on behalf of DAMAC Star Properties LLC, Dubai, in an alleged $350,000 (about N120 million) property fraud.

Profitel Limited, a Nigerian company, had in 2015 sued DAMAC Star Properties LLC for alleged breach of contract and swindling of a deposit for nine apartments in Dubai.

The judge, Justice Y. Halilu, held that Ankit, DAMAC’s Business Development Manager was not an “alter-ego” of the company, adding that he (Ankit) could not be made to pay for the misdemeanour of the company.