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July 6th, 2009 at 7:16 am

Dubai Investors demand money-back from celebrity-endorsed projects

Investors in Dubai are demanding their money-back from the firm whose behind the Niki Lauda, Michael Schumacher and Boris Becker towers. The investors paid about €150 million (Dh779.7 million) into funds to pay for the buildings. The investments that they have made will be repaid from the capital gains. Because they have not received the funds from Alternative Capital Invest, they are now consulting their respective lawyers.

According to the managing director of ACI, Robin Lohmann, the company has solid assets and the problem is due to the global market slowdown. Thus, the amount of money needed to repay the investors is not yet available.


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