Dubai Property Scam?

Britons who bought property in a flagship development in Dubai face losing more than £2m in deposits after the developer abandoned the scheme and fled the country. Some 40 Britons have paid deposits on “off-plan flats” in the Light House, a 15-storey block planned for Dubai Marina, one of the most popular developments in the emirate.
Emad Ayoub, 52, who has dual British and Egyptian nationality, had sold the project on the basis that it would have been ready by last month. So far, however, only the foundations of the 94-flat block have been completed. Ayoub left Dubai last month, and work has stopped."
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