Pyamod concerns around investor property

I’ve been reading articles on blogs, forums, websites about the scams and frauds that are hitting Dubai real estate market, specifically on a German Company named Pyamod.  Does anyone know if this holds true; if so, what would one do or need to contact to get their investment money back?  Has anyone else had this problem?

Here is a post I’ve seen on http://www.propertycommunity.com/forum/dubai-property/11534-refund-deposits.html:

The multi-billion dollar construction craze which has attracted investors from all over the world, has seemingly brought in unsavory types who have been preying on the never-ending appetites of locals and foreigners lining up to invest in the market.

A German company which claimed to have acquired a 2000-apartment plot in the proposed all Dubai‘s projects, has reportedly sold off apartments in the plot, with no prospect of them ever being built. The company, Pyamod German Developments, and its Fraud associates, and sales agents, are being investigated by Dubai and Germany authorities.
-
German Sports Tower I

-German Sports Tower II
-
Munich Millennium Office Tower
I
- German Supreme Residences I
-
German Supreme Residences II
-
German Supreme Tower
I
- German Supreme Tower II
- German Design Tower I

-PYAMOD Paradise
- German Design Villas
- German Skyscraper I
-
German Sky Tower
I
- German Sapphire Tower

Dubai authorities are also investigating the mysterious German Towers being constructed at Dubai Sport City, JVS, Slilicon Oasic . As we reported several weeks ago, Roland Paxino & Partners .sold several hundred apartments in the project off-the-plan some years ago, over 10 projects taking payments upfront. had sold the project on the basis that it would have been ready by June 2008. So far, no construction have been started. Roland Paxino left Dubai Dec 2008, and work has stopped.

In recent weeks I’m owner of twenty flats receiving calls and faxes from representatives in Pyamod Developments advising me construction on the project had stopped and would not be resumed. I have been offered their original cost, deducting 9% commission to Real Estate Agents + 3% documentation fee, back. Means 12% less money that I invested 4 years ago, losing more than 7million AED in deposits after Roland Paxino abandoned the scheme and fled the country to Europe We lost our money, our flat, our future ” everything, with a sales brochure promising prospective buyers that it would add comfort, security and joy to your life

We have sighted one of the letters sent which verifies the investors’ claims. Over several hundred by order of
Dubai Court in favour of the Case No 361. Buyers are also considering a criminal action against Roland Paxino for fraud.

When we visited the site two weeks ago we found no construction in progress. We contacted the builder on site who confirmed Mr. Roland Paxino sold the site to the newly-formed, UK-based, Properties. A Sales Agent however quotes a company spokesman as saying, ‘We sold the towers on again a week back.’

Having bought their apartments and paid for them almost in full, well before construction started, I am now wondering how ‘my’ apartments could be on-sold, on two separate occasions since.

Several calls to Sport City Properties, the master developer of Dubai sport city, where the project is sited, have not been returned.

Meantime the investigation into the conduct of the former CEO of, Pyamod German Developments , has been widened. According to Dubai‘s Attorney General, few persons has been arrested in connection with the investigation.
Two other men have also been detained and questioned, but have since been released.

A hastily convened meeting by the authorities, involving Pyamod and Master Developers, resolving the matter. That action averted a class-action lawsuit against Pyamod by at least sixty angry investors, most of whom were from Iran.

It’d be great to hear from the public, please send your comments and suggestions!

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Comments

hi.
i bought one bed apartment in this project (gs2 PYAMOD ) and payd 30 persent PRICE .the counstruction hasnot started yet ,the agents dosnot reply to me .i think we have wasted our money .all of them are froud.if some one decided to take an action aganst companiy please inform me .what should i do? if some body help me i am ready to give all its fees.my mob number in iran is:
+98-917-171-1874
best wishes

hi.
i have bought one bed room apartment in this project (gst2 or german sport tower 2 PYAMOD ) and paid 30 persent PRICE .the counstruction hasnot started yet ,the agents dosnot reply to me .i think we have wasted our money .all of them are froud.if some one decided to take an action aganst companiy please inform me .what should i do? if some body help me i am ready to give all its fees.my mob number in iran is:
+98-917-171-1874
best wishes

Hello Sirous,
Yes, many of us are running into the same situation. If you haven’t already, try joining Dubai Property Investors (Google Group) here: http://groups.google.com/group/dubai-property-investors?lnk=srg. This is where people who are affected by this collaborate their ideas as well as provide updated news. There is much information on there; some of it states that we should ask the bank (where the funds were transferred) if there is money in the escrow or not. This is a start and maybe more information can be retrieved after finding this information. If I hear of any Pyamod or GST2 news/updates/information, I will inform you. Please do the same if you hear something as well.
Thanks!

Hi,
I have purchased from them atudio at GST1, paying 50% of the apartment 3 years ago, 6 month ago they informed me that they have transferred the payment to escrow account and now asking me to pay 5000 dr to register the unit to my name through land department. I am ready to join you for any joint action against PYAMOD

Hi to all,

I am a client of Pyamod and i had invested my money in 4 units owned by this company.I do know that the company has problems,but what i do not understand is why people waist their time to change pieces of newspapers just for fun.The original article is below and has nothing to do with Pyamod.The person how posted this had only changed names and locations…..Pathetic…

Wednesday 27th May, 2009

Dubai property market beset by fraud claims
Big News Network.com Thursday 24th April, 2008

Claims of scams, fraud, and embezzlement are hitting the real estate market in Dubai.

The multi-billion dollar construction craze which has attracted investors from all over the world, has seemingly brought in unsavoury types who have been preying on the never-ending appetites of locals and foreigners lining up to invest in the market.

A UK company which claimed to have acquired a 900-apartment plot in the proposed Jumeriah Village project, has reportedly sold off apartments in the plot, with no prospect of them ever being built. The company, Strategic Property Investment, and its associates, William Cowe and Mark Emlick, are being investigated by Dubai and UK authorities.

Dubai authorities are also investigating the mysterious Al Areifi Tower being constructed at Dubai Marina. As we reported several weeks ago, Khalid Saud Al-Areifi & Partner Co., of Riyadh Saudi Arabia, sold several hundred apartments in the project off-the-plan some years ago, taking full payment upfront.

In recent weeks the owners of the apartments have been receiving telephone calls and faxes from Al Areifi representatives in Saudi Arabia advising them construction on the project had stopped and would not be resumed. Investors say they have been offered their original cost, plus interest, back.

We have sighted one of the letters sent which verifies the investors’ claims.

When we visited the site two weeks ago we found construction in full swing. We contacted the builder on site who confirmed there had been no disruption to the construction and it was proceeding at ‘full steam.’

Reports are now circulating that Al Areifi sold the site to the newly-formed, Abu Dhabi-based, Eskan Properties. A report in Gulf News Friday, however quotes a company spokesman as saying, ‘We sold the tower on again a week back.’

Having bought their apartments and paid for them in full, well before construction started, investors are now wondering how ‘their’ apartments could be on-sold, on two separate occasions since.

Several calls to Emaar Properties, the master developer of Dubai Marina, where the project is sited, have not been returned.

Meantime the investigation into the conduct of the former CEO of Dubai’s second largest property developer, Deyaar, has been widened. According to Dubai’s Attorney General, Essam al-Humaidan, a second person, Ganesan Krishna Kumar, 49, has been arrested in connection with the investigation. Kumar, originally from India, was a co-founder, and is managing director, of the Dubai-based advertizing agency, Masterbrand (ME) Ltd.,

Two other men have also been detained and questioned, but have since been released.

Zack Shahin, Deyaar’s ex-CEO is being probed in relation to claims of possible embezzlement. Deyaar has more than 1,600 apartments, as well as retail, and office complexes, under construction in Dubai.

The glitz and glamour of Dubai’s red-hot property market must be feeling the heat of the latest troubles, coming on top of the debacle surrounding the Damac project on the Palm Jebel Ali.

Damac, which claims to be the largest private property developer in the Middle East, sold apartments off-the-plan in what it called the Palm Springs project, a luxury apartments and resort project on the Palm at Jebel Ali.

Four years after launching the project, Damac wrote to investors saying it had been abandoned as the master developer of the Palm had changed the plans and the project could not now fit the site.

Within days the master developer, Nakheel, announced it was unaware of Damac’s claims, and that the changes which Damac referred to had been made ten months earlier, and Damac was happy with them.

A hastily convened meeting by the authorities, involving Damac and Nakheel, resolved the matter, with Damac agreeing to proceed with the project. That action averted a class-action lawsuit against Damac by at least sixty angry investors, most of whom were from the UK.

Regards,Lambe

Hello

My name is Soheil and I come from Sweden, but Originally from Iran. My grandmother have paid around 1.200.000 Dirham, for 2 apartments in sports tower, she is asking me what happend with the project, what happend with pyamod? Anyone have answers? Please Write to my email: Soheilrajab@msn.com

ciao sono fabio, io e un mio amico abbiamo acquistato dalla Pyamod due studio nella German Tower 2 in Sport City. Abbiamo pagato l’85% del prezzo pattuito rispettando tutte le scadenze contrattuali. A Giugno 2008 avremmo dovuto avere i nostri immobili ma i lavori non sono mai iniziati.Le motivazioni addotte dalla società sono che vi è un contenzioso con le autorità di Sport City per una strada che passa proprio nel lotto di questo palazzo. Ho scritto alla società e non ho mai avuto risposta.Adesso questa società è stata venduta e Roland Paxino non è più l’amministratore delegato.Mi dicono che il prossimo Gennaio si saprà se il progetto verrà spostato. Qualcuno sa qualche cosa più di me?? Sono pronto a partecipare a qualsiasi azione legale con chi ha gli stessi miei problemi

Here is the Italian to English translation:
Hello, I am Fabio, I and my friends have bought from two Pyamod study in German in Sports City Tower 2. We paid 85% of the price to meet all deadlines in the contract. In June 2008 we should have our property but the works have never iniziati.Le reasons given by the company are that there is a dispute with the authorities of Sports City for a road that runs right in the plot of this building. I wrote to the company and I never had risposta.Adesso this company was sold, and Roland Paxino is no longer the administrator delegato.Mi say that next January we will know whether the project will be moved. Anyone know anything more about me? I am ready to participate in any legal action with those who have the same problems my

I have 4 appartments taken GST-1, made almost 70% payments, after hearing a lot and sent them the waring letters they turned back saying good news, project will start in jan’10, but it was fake only as thee is no sign of that, then i decided to visit them, we found all together a different story, the company had been sold twice and they dont have the money few phillipino ladies were sitting there joking and laughing together seems we entered in a restaurant, there was no response when we asked then a phillipina came to us told that she doesnt know anything, company doesnt have the money at all to refund to their investors. and funny part was she told that they ar not entertaining any refund cases, even she thretened us “do whatever you want to do.” later she whispered “even govt can do anything” we are in hopeless stage.

now i asked and request to all the investers with this cheater company, please let us come all together, write to the local media and make a forum and comlaint together to the honorable courts of dubai, this company is a dirty shit, and eating the peoples hard earned money in front of our eyes.

so please investors love your money, recognies your values and join together against these cheaters.

regards,

gautam

mobile +971 55 248 1100

Hi all,

I own 4 units (%25 paid) in GST2, 4 units (%30 paid) in GDET, and 2 units (%10 paid) in MMT, unfortunately construction didn’t start except for MMT. After several months struggling with their lousy customer service employees, who are complete retards and act like absolute idiots, I requested a meeting with the new CEO and I succeeded in meeting him the next day itself.

I explained my issues to him and my request of getting a refund for my units since construction didn’t start yet and urgency of this money to me at present, he explained that they are in the process of solving the problems of all projects as follow:

- Conducting an internal audit for all projects accounts.
- Restructuring the company and associated projects in order to come up with solutions to clients.

In the meanwhile they’re trying to get necessary NOCs for the building permit from concerned authority and shall start construction immediately; well to be honest he proved to me that construction has started on MMT 1 week after obtaining the necessary NOC.

He also showed me some documents which proves that their companies are registered as approved developers with RERA, as well as all projects are properly registered and have escrow accounts. We also double checked it on RERA web-site in which it confirmed the same. He also proved that all my units are registered properly in the Land Department’s system, and indeed all my units were registered under my name. They also have a RERA approved payment plan linked to construction which I saw.

What I understood from him that they have acquired the company recently and their top priority was to put all legal documents in place as well as getting the building permits and NOCs which takes time. And he confirmed that within the next month construction should start in all projects.

Unfortunately my refund request was not accommodated; however, he advised me to wait until the next month and witness the construction of other projects.

The CEO was very helpful and it seems that the new management are very serious about the projects, but I believe that they came tooooooooooo late and I really hoped that they were their at the beginning.

I consulted several friend lawyers and all have different opinions about my refund case. Some encouraged me to seek legal action while some have advised me not to since legal fees could cost me more than what I have paid. I really hate to pay anything for lawyers and get zero result, since I don’t have that much resources at present.

I am completely lost, can you help me cause I’m in a desperate need of money.

Hi Everyone,

Firstly I and my friend both purchased studio apartments in German Sports Tower 2 in August 2006……. I guess that was the worst day of my life……lol Since Paxino done us all there have been two more new CEOs but I guess they have all learnt the same script as they keep saying the same…… I am from London and I have other properties In Dubai and they touch wood are OK….. Pyamod are not good developers and I have lost all my faith In them…. I travel Dubai very often almost 3-4 times a year and currently I have a court case with them Since 2008 November……Legal fee’s are expensive as they can cost almost the same or more of what I have Invested…….Well Currently I am In the middle of court proceedings and I am hoping something good can come out of this case……..I just feel Sorry for every single one of the Investors who have Invested with Pyamod….. We just dont all realy know what to do with this company……well If there are any outcomes on my case I will Inform you all……..

Hi guys,
I also invested 210,000 Dir at GST1. I visited the company one month ago and talked with a girle named somayeh, she repeated the same routin lies that the project will start in 6 month. She also told me that they have not money in their escrow accounts and all i can hope for is to somone important to come and purchase this company. I think we have is to forget our investment. The only workable way is to come together 40 -50 investors and make a poerful voice to rera and this company. I am ready to join. Tel. 971501500136

I bought a unit in Feb 2007 in GST-1. Praxino stole our money and left Dubai. The only hope is that all of us investors get together and try to do something again Paymond through Dubi Government. If you guys want to get together and put our hand together, I’ll be with you.

I’m form Iran and about two years ago I bought a unit in Pyamod’s German Technology Tower I (later renamed to Munich Millenium Tower I) in the DSO-Dubai Silicon Oasis. There has been no construction and I already paid almost $70,000. I’ve been asking them for a refund but the company is ignoring my emails and messages, I visited them once about 10 months ago. They said there is nothing they can do. They basically said they don’t have money to finish the project and they don’t have any money to return to us and we can go file a complaint if we want, but we won’t be getting any money, because there is none. They didn’t use the word ‘bankrupt’ but that’s what they were describing the situation of their company to be. Any thoughts anyone? Has anyone been able to get any money back from this company?
Please reply if you have.
What do you guys think?

I bought a studio in GST1 having same problem like the others, the case is in court constructors against Pyamod for payment, I do not know where is the owner of this company is the famous Sheikh Saeed, it seems the law and order in property sector is in complete mess in Dubai.So called RERA does not respond to investor´s problems it seems no one care for foreign investments. This does not happen even in least develop countries. The best is to get together and file a case against these arrogant people.

Hello All,
Thanks for sharing your stories with all of us. I think the first step we need to do is get information from the bank and find out how much is in Escrow accounts for all the buildings we have invested in – for me it would be German Sports Tower 2. We should get a letter (both in English and Arabic) from the bank with the details. Then, we need to check if the property is registered with RERA (and a valid one perhaps by asking for a letter, not just looking at their website). This letter should be written in both languages as well. Depending on the amount of money in the escrow, and whether the property is registered will determine the next steps we should take. Let me know if anyone comes up with any of the above – I will update once I hear something from the bank or RERA – it will be hard but if we don’t see any results, we will combine all of us individually and send them messages repeatedly. Again, let me know what happens, and I will do the same. Thanks!

Roland Paxino is a criminal and must be reported to the interpol. paxino is hiding in Monaco according to our investigator…the only way to bring him to justice is to file a criminal case in UAE and then take it to the Interpol for his arrest….the sooner we do it the more chances of recovering most of our money. We have a copy of his passport if needed. We are a USA and European company which has invested with Pyamod and facing the same problem regarding this fraud. we must not give up until we recover our investment back.

if you’re looking for Mr. Roland Paxinos(Pyamod) I know where he is.He is living in hotels in Europe.
Roland Paxino left Dubai Dec 2008, and work has stopped. … Buyers are also considering a criminal action against Roland Paxino for fraud.
I want to help all people who have been wronged and lost money because him.
Contact me if you need information about him.
I can help
Best Regards
bunte@ymail.com

DEAR FRIENDS,
ANY UPDATE? Doese anyone meet the pyamod in recent days?

any news or updates? these guys think if they keep changing their office locations, they are running away i live all the way down in Francd it’s very expensive to travell to dubai if you guys been to their office lately please share you comments i invested over 45000$ in pyamod in german sport tower 2

Claims of scams, fraud, and embezzlement are hitting the real estate market in Dubai.

The multi-billion dollar construction craze which has attracted investors from all over the world, has seemingly brought in unsavoury types who have been preying on the never-ending appetites of locals and foreigners lining up to invest in the market.

A German company which claimed to have acquired a 2000-apartment plot in the proposed all Dubai’s projects, has reportedly sold off apartments in the plot, with no prospect of them ever being built. The company, Pyamod German Developments, and its Fraud associates, and sales agents, are being investigated by Dubai and Germany authorities.
- German Sports Tower I
- German Sports Tower II
- Munich Millennium Office Tower I
- German Supreme Residences I
- German Supreme Residences II
- German Supreme Tower I
- German Supreme Tower II
- German Design Tower I
- PYAMOD Paradise
- German Design Villas
- German Skyscraper I
- German Sky Tower I
- German Sapphire Tower

Dubai authorities are also investigating the mysterious German Towers being constructed at Dubai Sport City, JVS, Slilicon Oasic . As we reported several weeks ago, Roland Paxino & Partners .sold several hundred apartments in the project off-the-plan some years ago, over 10 projects taking payments upfront. had sold the project on the basis that it would have been ready by June 2008. So far, no construction have been started. Roland Paxino left Dubai Dec 2008, and work has stopped.

In recent weeks I’m owner of twenty flats receiving calls and faxes from representatives in Pyamod Developments advising me construction on the project had stopped and would not be resumed. I have been offered their original cost, deducting 9% commission to Real Estate Agents + 3% documentation fee, back. Means 12% less money that I invested 4 years ago, losing more than 7million AED in deposits after Roland Paxino abandoned the scheme and fled the country to Europe “We lost our money, our flat, our future — everything,” with a sales brochure promising prospective buyers that it would “add comfort, security and joy to your life”

We have sighted one of the letters sent which verifies the investors’ claims. Over several hundred by order of Dubai Court in favour of the Case No 361”. Buyers are also considering a criminal action against Roland Paxino for fraud.

When we visited the site two weeks ago we found no construction in progress. We contacted the builder on site who confirmed Mr. Roland Paxino sold the site to the newly-formed, UK-based, Properties. A Sales Agent however quotes a company spokesman as saying, ‘We sold the towers on again a week back.’

Having bought their apartments and paid for them almost in full, well before construction started, I am now wondering how ‘my’ apartments could be on-sold, on two separate occasions since.

Several calls to Sport City Properties, the master developer of Dubai sport city, where the project is sited, have not been returned.

Meantime the investigation into the conduct of the former CEO of, Pyamod German Developments , has been widened. According to Dubai’s Attorney General, few persons has been arrested in connection with the investigation.
Two other men have also been detained and questioned, but have since been released.

A hastily convened meeting by the authorities, involving Pyamod and Master Developers, resolving the matter. That action averted a class-action lawsuit against Pyamod by at least sixty angry investors, most of whom were from Iran.

GERMAN SPORTS TOWER 1
your contract with Pyamod, if you have one, will state that disputes will be resolved by arbitration at dubai chamber of commerce. the 135K dhs fee is the total fee which can be recouped if you win the case. there will be no appeal. one decision and it is final. mr ronald paxino has vanished with all investor’s moneis along with a number of highly exclusive cars and a couple of multi million dollar boats.
pyamod has no assets and its not worhwhile taking them to arbitration. there should be a criminal case against paxino. only 5 projects, which are in sport city and silicon oasis, presold by pyamod are earmarked for completion. all other projects are DEAD n GONE.
pyamod has started 2 towers in silicon oasis. for GST-1 they are in the process of cancelling non paying investor contracts and paying off the contractor and obtaining finance. they think it will be jan-feb before they can make a start. that is our only hope. all contracts for GST-1 are now registered at dubai land dep. you can get a copy from them.
the above was given to me by pyamod in person.

I will try to help a few people.

I worked at Pyamond for two to three weeks. I bought an apartment from them in 2007 thru a real estate agency and then they closed the contract thru a sales agent named “paul mokhtari” I later brought him a few more clients from Iran and I would collect a 4% commission. no one pays that much commission, and the only reason they did was because they had no plan of building them. I later started working for them as sales.
the head of pyamod is not Roland Paxino, even though it seems like that. the master mind behind it is a man from Pakistan named “eftekhar”
him and two of his brothers named “esrar” and “imtiaz” pulled off this scam. this was well planned and they used Paxino as front man.
most of the money has gone to “Iftikhar” and his brother “Imtiaz” (he was the sales director), they pulled off these scams and they knew about it the whole time. and they had the sales persons such as “mokhtari” get bribes and other gifts so they keep everything quiet. Imtiaz and Mokhtari are still in UAE;
Paxino blew most of his money on furniture and his show room and couple cars and boats, the best way to get anything out of this company is to go after the master minds, they later opened another company advertising the same concept “German Engineering.” their company’s name is casamia. you guys have better chance of success if you go after the three brothers and the sales persons.

GERMAN SPORTS TOWER 1
your contract with Pyamod, if you have one, will state that disputes will be resolved by arbitration at dubai chamber of commerce. the 135K dhs fee is the total fee which can be recouped if you win the case. there will be no appeal. one decision and it is final. mr ronald paxino has vanished with all investor’s moneis along with a number of highly exclusive cars and a couple of multi million dollar boats.
pyamod has no assets and its not worhwhile taking them to arbitration. there should be a criminal case against paxino. only 5 projects, which are in sport city and silicon oasis, presold by pyamod are earmarked for completion. all other projects are DEAD n GONE.
pyamod has started 2 towers in silicon oasis. for GST-1 they are in the process of cancelling non paying investor contracts and paying off the contractor and obtaining finance. they think it will be jan-feb before they can make a start. that is our only hope. all contracts for GST-1 are now registered at dubai land dep. you can get a copy from them.
the above was given to me by pyamod in person.

Roland Paxino is a criminal and must be reported to the interpol. paxino is hiding in Monaco according to our investigator…the only way to bring him to justice is to file a criminal case in UAE and then take it to the Interpol for his arrest….the sooner we do it the more chances of recovering most of our money. We have a copy of his passport if needed. We are a USA and European company which has invested with Pyamod and facing the same problem regarding this fraud. we must not give up until we recover our investment back.

are the police involved in this? is interpol involved?

Any news?

Hi sima

who is this imtiaz is he dirictor of profile other company who has gone bustin dubai

any information appreciated.

john

If the next step is to file a criminal case – how do we go about doing so? Also, I’m not paying about $135K for court fees – I’ve lost enough money already.

If the next step is to file a criminal case – how do we go about doing so?

If anyone has answers to this – please let us know. I’m trying to find out from different sources and will post once I find valuable information.

I think we should contact the media so we can get more attention about this big problem we all have, if we go together we can do it!

Iam one of this company victims,ipayd 70% of one bed aprt.GST2,ivisited the office several times last year.they offered me anothe aprt.in another project.but they were lying .there is apalasenian fraud lawyer who told me no money can be compensetated,but to wait.they said to me the main reason of delay is to get the new plot which was lately given to them,but the didnt start because they dont have money to start and want to steal more,Imet the new owner assistant who is from local people he told me that his brother bought the company and one of dubai sheiks is his partener and they are trying to rescue the company.but I dont believe that.I think we all should file our cases in court for reference.and write alettter to sheik mohammad bin rashid.Iam going at end of july to dubai and update you.the company has moved to anew location and I will update you about it

This company is moved to new location does any body knows theis address telephone number please urgent..

If any of you are good at english try to look at this site

http://www.uaepm.ae/en/communicate/index.html

We need to inform about this big problem we all have

Thank you.

I’m unsure but will try to find out. Seems like their site, http://www.pyamod.ae is ‘under construction.’ My opinion is that they must have taken it down – hope they are not all running away.

We are all robbed in daylight robbery . The thieves are
roaming around openly in UAE giving business to other educated thieves the lawyers who claims that they can get your money by paying their high fees.What a place to live invest.Dubai. The only thing can save us is the government if they are sincere.

Hi NWA,
I noted this information from a few weeks ago (good thing since their site is down now). Please let me know if this information does not work.
Pyamod
Office 5, 1st Floor Phone: +971 4 3417883
Dubai Islamic Bank Building
Sheikh Zayed Road Fax: +971 4 3417898
Dubai, UAE
(pyamod.ae)

Hi admin

It is not working the telephone numbers are off. They moved off without informing to their clients.

This is not good news at all! I’ll try to find out by asking other people and will update if I do find contact information. I’ve tried emailing them for several months now but no replies. info@pyamod.ae works because I do not receive any error message but I do not get any responses from them.

Emily – my question is – how did you receive this information re German Sports Tower 1 Etc. from Pyamod if as it seems, no one can get a straight response from the two office girls? And why would we believe this to be true anyway?
I certainly hope that this is true because we have a purchase agreement for German Sports Tower 1 which is fully paid up as per agreement and is also registered with the Land Dept (I have checked it with the Land Dept. and they say it is genuine and registered with them).
However, who will build it? Who is assuming responsibility / think that they own the company?

We were sent progress photos of the start of build, before Fanny May and Freddy Mac fd up our lives so I expect that there is at least a few stuctural floors in place for German Sports Tower 1.

Also – we see lots of messages from people wanting to get together to fight the case and share the cost, but we see no action / iniciative. Anyone interested in moving forward should leave their email address on this site. Perhaps ADMIN could set up a site /address where we can all lodge our email addresses?

For your information – we contacted a local law firm rewegarding the cost of an action to try to recover our money and this is their response;

We went through your last mails.

To summarize briefly the conditions and steps necessary to be done to proceed your case we have to explain the following:

– Claiming amount is 647, 973.48 Dirham (amount paid to date)

-According to the Clause of your Purchase agreement “Governing Law and Disputes” your dispute shall be settled by Arbitration (Dubai International Arbitration Center).

– DIAC Fees will be following:
2,500.00 Dirham Registration fee for claims
Cost of the arbitration is following:

For the dispute amount 500,001.00 Dirham up to 1,000,000- Centre administrative fees 7,000.00 Dirham;

Tribunal Fees in dirham and in percentage – Minimum amount-9,500 +1% of the amount exceeding 500,000.00; Maximum- 38,000.00 +5% of the amount exceeding 500,000.00

-Before to apply for arbitration it will be necessary to notify the other party of its defaults.

-To get official information related to Developer and project from Dubai Land Department- we will record case at the Dubai Court of the First Instance- here charge (Court Fee) – 750,000. Dirham; translation charges of your documents from English into Arabic – 70.00 Dirham per page of coming translation text.

Our Legal services fees:

5% of the claiming amount shall be paid an advance upon issuing Power of attorney

5% of the claiming amount shall be paid after the Judgment.

Unfortunately there is big default in the Real Estate Market at this time. And many Real Estate cases have been arose.

However any judgment may be executed:

In event if the Respondent is legal person (LLC, JSC, est.) The debt payment liability shall be extended to its assets,

In event if the Respondent is FZE (establishment), Sole proprietorship- liability shall be extended to the owner’s assets.

In event if there is an escrow account- debt shall be collected from the balance of the account.

So you can all see that it is an expensive business trying to recover your money – and even then, there is no guarantee that there is any money in any account that can be used to pay us all.

Thank you very much for sharing. Yes, this seems to be very expensive and a money making scam especially because there is no guarantee. Perhaps you can add a clause to the contract (if you are going ahead with the attorney) where this amount will be paid only if you have won your case and all your money is fully collected. I’m currently speaking with someone from Google Groups about this entire issue – once I hear back, I will share with all.

Hey Stuart – I believe I have most email address already from people that replied to this post (unless if fake ones were given). Should I create a list of these people and submit to the Land Department and Sports City? It may be that some people invested in different Pyamod properties – but in any case, this is still one developer right. Let me know what you think and how to go about.

Hi Guys
I bought a 1 bedroom in GTS2 about three years ago and paid 30% upfront, I have since gone to dubai twice and they and making me run around and I do really think I have been a victim of a fraud. Please let me know if there is anything can be done. I am In Canada however I can be anywhere in matter of days.
Thanks a bunch
Ramtin
001-514-583-7253
ramtin@abadian.ca

hi all freinds and pyamod victims
my our advice is to cllect all emails and group complaint forward to sheik mohammad bin rashid,he is the only one can solve this issue.
I dont think court or lawyers will help simply because no
dfininte prson can be found to be accused and the company has no cash to cover even 5 % of what we paid.I have prsonally sent email to sheik mohammad bin rrashid hoping for response.our freinds who are living in dubai can help us if can approach him personally on our behalf

Hi Admin

I think that all people who’s email address you have shoukd be asked to answer the following questions:
a: Which Pyamod Project have you invested in?
b: Have you fulfilled the payment terms and paid as and when you should have (or have you defaulted and stopped payments?)
c: Has your Flat been registered with the Land Department?
d: Would you be interested in going to court over this matter, bearing in mind that you will have to pay your share of the costs? Remember – even after spending money on Lawyers for a court case and even if we win, IF THERE IS NO MONEY THEN NOTHING IS WHAT WE WILL GET, even after winning our case.

From there we can decide how to progress.

I contacted the Land Dept regarding my Flat and they confirmaed the next day that my flat was registered correctly with them. their email address is info@dubailand.gov.ae

If we are registered with them then I cannot see how that land can be used by anyone else, other than to build the designated and recorded Project.

Something else we need to know is – Who now owns Pyamod? and what are their Contractual and Legal responsibilities to the earmarked Projects.

The comments made by Arash re several hundred by order of Dubai Court in favour of the Case No 361” is interesting but what exatctly was it and how can we get information and an upgdate on that?

I am sure that Sheikh Mohammad bin Rashid will help us when he hears about how we have been treated by Pyamod and that we all believed in Dubai. People from all over the world how believed that Dubai was a great place to live. Many of us invested in Dubai 2 or 3 years ago and havent got what we payed for.
I am sure that we will win over Pyamod and fraudsters will go to jail. I can fell it.

according to the agreement dated 01.09.2008 relating to apartment no GDET I-2003 .German design tower -1 in Dubai Sport City, I have made all of the payments according to the agreement.
Now, after 2 years from the signing of the agreement, I have received no information about progress of the project, and never Pymod have sent me any information about the project statues.
Please help me

Today I called one of the Pyamod staffs, and asked about the German design tower -1 project , she said that they have started construction of German design tower -1 and they will send me the photos showing the progress of the project

Ayda Youssefpour

Christian – I have looked at the uaepm site that you identified in an earlier posting and I have looked at the questions and responses. They are all from local people.
To go down that root I think we would need the participation of an influencial local sheik.
Anyone know one??

Hi Ayda – can you please provide us the phone number you used to call Pyamod. The numbers we have are not operational. Also, it maybe true that German Design Tower 1 is being built but be careful. I’ve read stories that fake picture are put up and labeled as the building name you ask for. Also, I personally am more concerned about German Sports Tower 2 but since it’s Pyamod as the developer, we are all in the same situation. Please provide the number if you can, thanks!

Hi Ayada
Please give us the contact number you called need it urgently. thanks

Weather it is the sheikh or RERA they all know the problem,
we are at the mercy of the government if they want to help us or not.This is Arab world.They are the people who are supposed to be most sincere most upright.Over beloved Prophet was among them .My advice is to be patient, when the crises are over somthing will come up, take care of your health, money comes and goes.Prey to Allah and be patient.

Hi, Nwa
Their contact number:
Cell:00971506003452
tel: 0097143417883(this telephon is disconnected, they said that it will be connected within 2-3 days)
fax;0097143417898

The new Managing Director is Mr. Ihab Quandil

Dear Admin,
Please call me on +971(050)67389899
Yesterday I went to Pyamod and met Customer relation assistant, she gave me site Photos Of German Design Tower 1, I asked for a site visit, she said that they can arrange it after 10 days, Could you please give me your contact number, It is very important to call you

Pyamod.ae site now redirects to SKE holdings and following is letter in one link.

The idea of registering email list and then putting up some ation together sounds good idea atleast to start off.

Welcome to SKE Holding,
SKE Holding was founded to cater the growing demand of real estates in Dubai market. With the collaboration of its professionals who are well-recognized with their unmatched experience in both the real estate development and construction, SKE Holding is being considered as one of the leading firms in the real estate development field.

Under the leadership of H. H. Sheikh Mohammed Bin Rashid Al Maktoum the real estate market in Dubai has witnessed a phenomenal growth prior to the global financial crisis. After the financial crises hit the global market, the real estate market all over the world was affected, but the effect varied among countries. The effect on the real estate sector in Dubai was not of a great concern when looking at other real estate markets.

I believe that today is the most favourable time for acquiring assets in Dubai.

The real estate sector has always been a cyclical investment, which means that you need to identify the right time to buy at the right price before the trend shifts upward. In Dubai the trend has just shifted upward; and therefore, this is a very strong signal to buy and make good profits in the short-term while the long-term would be even more promising.

SKE Holding was one of the first real estate firms to start assets acquisition in Dubai, with the first acquisition of 7 unique projects the company has built a very strong portfolio in the emirate, and we are still seeking more projects to acquire. We believe in the prosperous future of Dubai because we believe in the vision of our leader H. H. Sheikh Mohammed Bin Rashid Al Maktoum.

Sincerely,

Sheikh Saeed Bin Mohd. Bin Khalifa Al Maktoum

hi adnan .who are you.do you work for pyamod.if this true,please tell us more about this change,and when german sport tower 2 construction will start.
i apprecite your response.

Is it good or bad that http://www.pyamod.ae now is SKE holding?

It’s all good news.

They are showing 7 ex Pyamod Projects as having been aquired by them.

I have had an email from the Vice President, Mr. Ihab Quandil, informing me that with regards to German Sports Tower 1, it is 26% completed and they are in negotiatios with the main contractor to recommence the works.

Perhaps you should ask for some type of proof? They’ve been saying things that are meaningless and untrue so far. Currently, I’m trying to email then so I’ll post what they reply. I tried calling their main number but this is still disconnected.

All we need is proff, a paper or something, I dont trust them any more. If somebody can say 100% sure that German sports tower 2 will be build please write it here.

It sounds good but I dont trust them.

many regards Christian

Hi admin,
There new landline number is 00971 434 17 885

Thank you so much for providing the new phone number. I will publish a new post with the conversation I had with them.

we need documentation from them, it’s too easy to tell lies when you call them.

Thanks

Dear all:
their contact number:
+97143417884&5

From the official Dubai Real Estate Regulatory Agency’s web site these are Pyamod Projects as listed having a Plot/Land Registration number:

http://www.rpdubai.ae/rpdubai/home/projects.do?lang=0

Follow this link re German Sports Tower 1 progress

http://www.rpdubai.ae/rpdubai/jsp/ProjectIndicator.jsp?imageLoc=../SharedFolder/ProgressIndicator/806_20.jpg&projectName=Progress Indicator of German%20Sport%20Tower1

German Sports Tower 2 progress (no progress)It is not stated as being a registered Project.

Follow this link for German Design Tower progress

http://www.rpdubai.ae/rpdubai/jsp/ProjectIndicator.jsp?imageLoc=../SharedFolder/ProgressIndicator/981_97.jpg&projectName=Progress Indicator of German%20Design%20Tower%201

Does any have news about ske holding? who owns this company, is it Sheikh Mohammed Bin Rashid Al Maktoum as ske holding says or is it a lie?

http://skeholding.com/letter_from_president/default.htm

I dont understand that nothing happens on this blog about this problem many have in Dubai?

I have a one bedroom apartemnet in GST-1 and same story as others ,today I called SKE (Pyamod) and finally managed to talk to some one.

She told me that Sheikh Saeed Bin Mohd. Bin Khalifa Al Maktoum has bought the company and the CEO is Ihab Qandil.
She said there is nothing is going on at moment but have plan to restart the construction ,however, they have no date yet…. can any one verify if Sheikh Al Maktoum has really bought this company and now in charge ?

I dont believe them, if he has bought the company where can we see it? All we need is proff!!!

They are not starting any construction, there is no money to do that?

CHRISTIAN – Do yourself a favour. All you do is doubt everything – we want proof – I want to see proof!!
Take my advice – GO TO DUBAI AND ASK TO SEE Sheikh Saeed Bin Mohd. Bin Khalifa Al Maktoum AND ASK HIM DIRECTLY TO HIS FACE – ”HAVE YOU BOUGHT THE COMPANY?”

Only then will you stop writing bull shit none-helpful comments.

Hi Stuart

My problem is that I can’t come to Dubai right now. I just don’t understand why people who are visiting ske holding in Dubai think it is ok just to hear it from them, we want to have dokumentation, I called them many times to send me proof to my e-mail that the owner was Sheikh Saeed Bin Mohd. Bin Khalifa Al Maktoum, but they cant, that is why I think they are lying to os. If I had the opportunity to come to Dubai I would talk to them self but I cant come to Dubai before next year in June.

Seems like getting nowhere, has anybody contacted such lawyers or know of any lawyers who would take fee after successfull refund.

I am willing to loose some fee to get my rest of the money back.

has anyoe heard anything on GST 2 I BOUGHT A 2 BED APARTMENT THERE, PAID 50% UPFRONT AND am afraid its gone to the wall
sincerely
david

Did any of you had an email from skeholding lately, with news about tte 7 projects or is et only me?

Many regards
Christian

Hi everybody
I live in Kish Island. It is just 30 minutes from Dubai. It is easy for me to go there. I have gone many times but it seems useless. They offered me to transfer the money to design tower, but I cant beleive them more, so I refused doing anything and insisted on refunding the money back. If anybody knows anything new??? Isnt it better to shift to other project?? What about the complaint???
Please tell sth. I really need the money
Maryam

I bought an apartment in GST 2 back in Jan 2007. After hearing paying over 75% I have absolutely no record of any further developments. I have a contract (Worthless?) and received numerous emails from pyamod namely Diana. This is her last email

First let me apologize for the late replay but I was out from the office for the last two weeks.

We would like to inform you that the company has sought a solution for the freeze issue that was imposed by RTA, in which the plot location will not change but the plot area will be reduced, however the project GFA will remain the same and that by allowing additional floors to be built. Such change is unlikely to affect unit areas, but could affect some of the lower floors location which will be moved to higher floors.

The company is still waiting for the final approval from RTA which should be received in the near future.

The project will go ahead as soon as we get into the plot position.

Best regards,

All I know is that reading the above comments I think its right that we all club together and put our concerns forward since its long trawl through lawyers/solicitors etc and directly to sheik mohammad bin rashid as he is the one who can help out in this situation.

If anyone wants to contact me I am available on 0044 7792661478

These bastards have taken our hard earned money and living lavish lifestyles in Europe and UAE. We have all put alot of money into theses projects so lets get it back whatever is left!!!

dear all,

please contact on dubailawinfor@gmail.com

many thanks
beema

Dear investors,

I have read all your concerns . Here i need to be specific about the fact that as investors you cannot go for class action litigation in dubai. The privileged laws in Dubai doesn’t allow for such litigations. Moreover being a practioner in this filed i have come across with similar case and what i noted in pymod agreement is that the concerned authority for dispute resolution is arbitration court.

for any further queries please contact on 0508815107 or dubailawinfo@gmail.com

many thanks

beema

Reply to beema
Hello,

How can we file a case to arbitration court, when they do not have any money even to start a project, for example the very first Tower called, German sports Tower 1 which the construction stopped April 2008.(second floor).This is how the laws of Dubai works.They are trying to boast with all those large metal structures, but the basic law even to protect someone investment or to catch a thief in this affair is absent.

regards
NWA.

Just spoke to Beema from http://www.albaharadvocates.ae/index.html who basically said we could stand a chance in getting funds back as all funds went into escrow and Pyamod have assets in Dubai which could be claimed against.

All she requires is power of attorney and she will do the rest. I have asked her to send me furtmer information as she wasnt that clear on the phone.

Hello everyone

Does anybody knows where Ske Holding is. There telephone
number is not working.They are not replying to e-mails.People living in Dubai please let us know. Urgent!!!
many
Thanks.

Hey NWA,
Have you tried the following? Let me know if it doesn’t work:
Pyamod
Dubai Islamic Bank Building
Office 5, 1st Floor
Sheikh Zayed Road Dubai, UAE
Phone: +971 4 3417883
Fax: +971 4 3417898
(www.pyamod.ae)

Hello everyone, god bless and hope for good news!

As mentioned before, my grandmother and my uncle both paid front of an apartment in german design tower – http://www.rpdubai.ae/rpdubai/jsp/ProjectIndicator.jsp?imageLoc=../SharedFolder/ProgressIndicator/981_97.jpg&projectName=Progress%20Indicator%20of%20German%20Design%20Tower%201 says that they have started building but whats up with the projet are they still going or have they been aborted? can anyone please help me my grandmother is very sick sha barley have any money and cries everyday for this issue. Can anyone help us, we live in Sweden if you’d like to contact us please do so Soheilrajab@msn.com or +46 087512479 please if you got any information share it with us. All I know is that they have approx paid around 750.000 dir.
Sinc,
Soheil.

Hi admin,
ALL those number which you have mention are not working from out side the country. Please try from local line ,if
does inform them to get them corrected.
The other numbers are which are also not working Pyamod (Ske holding Ltd.)
00971-434-17884
00971-434-17885
regards.

All your Money is with Roland Paxino, iftikhar, Imtiaz and israr Only way you can get your money back contact MEdia and share your stories as soon as hits the papers and media and few video clips on you tube Dubai will take you serious till than good luck you will not be able to even recover 1 aed from your investments this is such a big deal i dont understand how can you sit back and wait when paxino is flying high with his private jet cruising the world with his luxury boats and bentleys and spending top dollars thats all your hard working money so lets all meet up and do something about this all their stories they are telling you is bullshit they are just buying time and you are falling for it most of the projects have been hand over

THIS IS SAD BUT ITS A TRUE STORY AND CONTACT WITH ARASH HE CAN HELP YOU

ba salam b dustan.man 3 sale pish yek aparteman az sherkat pyamod kharidam dar german design tower 1 k 10 darsad pardakht kardam waly projeh start nashode wa hazer b bazgardandan pul ham nistand az daftar sherkat faghat tedadi niru baghi mandeand k shabih restunan edareh mishawad wa nemidanam che tor mishawad puleman ro az chang anha birun biawarim.tel man 00989166912463 mamnun

I totally agree guys…..Don’t waste your time with these crooks…lets file a criminal law suit, inform the authority and force them to report it to the INTERPOL so we can get this guy. Thats the only way. we need to hire a good international attorney to file both civil and criminal lawsuit before its too late. I am willing to take the lead and do this if everyone agrees to share the attorney fee.
Jay Jamchi +1-561-283-1609
lets do it guys………..I cant wait to get this guy…we invested in more than 23 units with him.

last week I was in dubai and the SKE (PYAMOD) office was closed. and all signes disappeared.if any body knows about them please mail to me .

no use friends!! paxino is out from this since long time after this company been sold 2 more times. office closed, paxino is in his country enjoying the money like anything. RERA is a helpless and useless organization in Dubai. you vist there is no use, they will just look at you so helplessly. never invest in this country, have no future at all…….

Dear All,
Last week I referred to the Dubai land department, they informed me that GERMAN DESIGN TOWER I PROJECT will be cancelled; they advised me to send them the property details to the following e-mail address:
hamed@rera.gov.ae
Please inform all of the investors on this project to do the same

I invested in GST1. I have paid 80% and im furious that the construction is at a standstill. I have demanded a refund from the Pymod office located on SZR but they told me they have a no refund policy. What can I do? Someone Please inform me of what I can do. Here is my email address: lcredubai@yahoo.com

salam bar hameh iranian man ahmad akaber hastam 3 sal pish yek wahed az shekat pyamod dar german design tower 1 kharidam waly ta b hal waziatam roshan nashodeh az chand nafar az kharidaran shanidam k edareh amlak dubai in projeh ra laghw kardeh wa kharidaran bayad tamas begiran har kas etelaat jadidi darad lotfan tamas begirad ta ba aghl jame rahi baraye hal moshkel payda konim tel man 00989166912463 ba dorood wa omid mowafaghiat

e mail man ham ahmadakaber@yahoo.com

I invested in GST1 and have paid 60% . I agree with Jay Jamchi.

Oh my Goddd
i was hoping ill get some good news from all these comments but unfortunately made me more disappointed.
we purchase 3 appartemant in german supreme tower 1 and 2
and also in sport city in 2007 and since then we didnt get any news of improving the project.
so please if anyone got any news about them inform me aswell .
God bless you all fereshte_t2004@yahoo.com

What i heard half of the projects has been canceld and they dont have the money to pay back the buyers all the money has been paid to Land owners again they are local arab so they get their hands first on their money for land and after that there is no much left to pay us back paxino has already spent most of it and he is gone i heard he is some where in south of France most the money was spent towards paxinos project show room his stay in hilton hotel in dubai for over 5 years they even told me he owns private airplane and thats our money and i have spoke to international police in order to get our money back dubai government has to put a request for Roland Paxino if we get him back we can get little of our money back
Ahmed Bajorvardi
owner of four units from german supreme tower 2 and design tower

he only lawyers which got money back from the developer was Ali Hadad
and assosiates, I am not saying this as to getting a commission, just as
the only Lawyers I know who got the money back from a semi goverment
developer, so if you want to file a case, do it with a good lawyer, we
paid to an international lawyer and after first legal notice they asked
us for more and more money. But this company has a structure and is
local company and they do understand peoples problems.

I worked at Pyamod for two to three weeks. I bought an apartment from
them in 2007 thru a real estate agency and then they closed the
contract thru a sales agent named “paul mokhtari” or Pouira Mokhtary Yazdi I later brought him
a few more clients from Iran and I would collect a 4% commission. no
one pays that much commission, and the only reason they did was
because they had no plan of building them. I later started working for
them as sales.
the head of pyamod is not Roland Paxino, even though it seems like
that. the master mind behind it is a man from Pakistan named
“eftekhar”
him and two of his brothers named “esrar” and “imtiaz” pulled off this
scam. this was well planned and they used Paxino as front man.
most of the money has gone to “Iftikhar” and his brother “Imtiaz” (he
was the sales director), they pulled off these scams and they knew
about it the whole time. and they had the sales persons such as
“mokhtari” get bribes and other gifts so they keep everything quiet.
Imtiaz and Mokhtari are still in UAE;
Paxino blew most of his money on furniture and his show room and
couple cars and boats, the best way to get anything out of this
company is to go after the master minds, they later opened another
company advertising the same concept “German Engineering.” their
company’s name is casamia. you guys have better chance of success if
you go after the three brothers and the sales persons.

4 U Properties

Flat No. 806, 8th Floor
Righa Al Botain
Opp. Hotel Concord
Al Maktoom Street
Dubai – United Arab Emirates

Tel : +971 4 222 4858 (24 Hours)
Fax: +971 4 2211897
Mob: +971 50 2249940

I invested in GST2 and have paid 50% . I agree with Jay Jamchi and Ali

Paxino has stole my 3 apt down payments and i keep calling the compnay saying they have no money in their bank for refund and i dont have the money to hire a lawer to fight for my rights i wish i never step in their office or dubai lost all my hard working money

do you all want to know where your money went watch this video copy paste this link you will see where all your hard working money has gone

http://www.youtube.com/watch?v=PCODxKeNJT8

as I was informed “SKE HOLDING” is continuing the Pyamod projects pls. check the below website:
http://www.skeholding.com
the email and telephon as below:
email:csr@skeholding.com
tel.:+97 14 3235 720

pls. correct the website as below:

http://WWW.SKEHOLDING.COM

As i was informed i went to Jumeirah Village south and sport city there is no construction going on pyamod sites this is a 3rd time i am going and visiting since Jan but i did not see anything they keep lie

Claims of scams, fraud, and embezzlement are hitting the real estate market in Dubai.

The multi-billion dollar construction craze which has attracted investors from all over the world, has seemingly brought in unsavoury types who have been preying on the never-ending appetites of locals and foreigners lining up to invest in the market.

A UK company which claimed to have acquired a 900-apartment plot in the proposed Jumeriah Village project, has reportedly sold off apartments in the plot, with no prospect of them ever being built. The company, Strategic Property Investment, and its associates, William Cowe and Mark Emlick, are being investigated by Dubai and UK authorities.

Dubai authorities are also investigating the mysterious Al Areifi Tower being constructed at Dubai Marina. As we reported several weeks ago, Khalid Saud Al-Areifi & Partner Co., of Riyadh Saudi Arabia, sold several hundred apartments in the project off-the-plan some years ago, taking full payment upfront.

In recent weeks the owners of the apartments have been receiving telephone calls and faxes from Al Areifi representatives in Saudi Arabia advising them construction on the project had stopped and would not be resumed. Investors say they have been offered their original cost, plus interest, back.

We have sighted one of the letters sent which verifies the investors’ claims.

When we visited the site two weeks ago we found construction in full swing. We contacted the builder on site who confirmed there had been no disruption to the construction and it was proceeding at ‘full steam.’

Reports are now circulating that Al Areifi sold the site to the newly-formed, Abu Dhabi-based, Eskan Properties. A report in Gulf News Friday, however quotes a company spokesman as saying, ‘We sold the tower on again a week back.’

Having bought their apartments and paid for them in full, well before construction started, investors are now wondering how ‘their’ apartments could be on-sold, on two separate occasions since.

Several calls to Emaar Properties, the master developer of Dubai Marina, where the project is sited, have not been returned.

Meantime the investigation into the conduct of the former CEO of Dubai’s second largest property developer, Deyaar, has been widened. According to Dubai’s Attorney General, Essam al-Humaidan, a second person, Ganesan Krishna Kumar, 49, has been arrested in connection with the investigation. Kumar, originally from India, was a co-founder, and is managing director, of the Dubai-based advertizing agency, Masterbrand (ME) Ltd.,

Two other men have also been detained and questioned, but have since been released.

Zack Shahin, Deyaar’s ex-CEO is being probed in relation to claims of possible embezzlement. Deyaar has more than 1,600 apartments, as well as retail, and office complexes, under construction in Dubai.

The glitz and glamour of Dubai’s red-hot property market must be feeling the heat of the latest troubles, coming on top of the debacle surrounding the Damac project on the Palm Jebel Ali.

Damac, which claims to be the largest private property developer in the Middle East, sold apartments off-the-plan in what it called the Palm Springs project, a luxury apartments and resort project on the Palm at Jebel Ali.

Four years after launching the project, Damac wrote to investors saying it had been abandoned as the master developer of the Palm had changed the plans and the project could not now fit the site.

Within days the master developer, Nakheel, announced it was unaware of Damac’s claims, and that the changes which Damac referred to had been made ten months earlier, and Damac was happy with them.

A hastily convened meeting by the authorities, involving Damac and Nakheel, resolved the matter, with Damac agreeing to proceed with the project. That action averted a class-action lawsuit against Damac by at least sixty angry investors, most of whom were from the UK.

Hi friends
As you see, I wrote the first comment for finding any way nearly 3 years ago but , I repeat it again without any hope and without any plan for take a step .I think it will be useless in this manner .recently I joined a group in facebook named pyamod.please join this group for chatting and to find best way for our contact between ourselves .if we choose a leader and form a unit group than have a lawyer we can take an action against company or it’s director .if all of us inter into a contract with a law firm , lawsuit fee also will be reduced .I’ll wait for joining the group .my mail is: sirousshahryari@ hotmail.com.
Thanks a lot

well guys, the head behind all of this is Roland Anton Paxino. He moved to Zurich/Switzerland and opened: swiss doobacco GmbH Zürich. It is a Shisha Lounge. Authorities should get him there.

I have bought a 2B/R apt in German Sport Tower1 and paid 700,000 AED.
please let me know if anybody got new news or if eventually decided to open a lawsuit in regard with this project anywhere in the world.
My contacts are :
+98 1961135275
email ffatahi@yahoo.com

+98 9161135275

man irani hastam wa az sherkat pyamod yek aparteman kharidam ta b hal bala taklif mandeh lotfan kolieh kasani k az in sherkat kharid kardehand ba man tamas egirand ta betawanim hamdigaro payda konim wa ba ham rahi baraye hal in moshkel payda konim 00989166912463 ahmad akaber

I have paid 90% for an apt. in German Sports Tower 1.
Like all of you I would like my money returned. If the money is truely in the ESCROW account then they should be able to refund it, especially as the purchasers of these apts. are registered with the Dubai land dept.
I will also join any group who will endevour to get our money refunded. As I live in Spain I cannot be actively involved in Dubai.
stuartrudman@hotmail.com

We must take a class action law suite..meaning all of us have to sue him, Ronald Paxino that is and Pyamod…I am willing to be in charge if everyone agrees to share the international attorney fees.

Jay
+354-844-8252

I have paid 92% of an apartment in German sports tower 1. I am ready to sue SKE holdings in Dubai and Paxino R in European court pertaining to get my money back. I will share cost with any group/ individuals who are suffering like me. I can offer only limited time.

Refayet Hossain
Sweden

If our paid money is in ASCROW Account

Trust Acc. Number : 4498001989
Bank Name : Badr Islamic Bank

how or who can we approach in an attempt to get our money back?

One problem I see is that because they commenced the build they have obviously spent some of the money so all of our money will not be available for return.

The only one to reach out to is the RERA Land Department (http://www.rpdubai.ae). I called the number for skeholdings.com, which lead me to a guy named Mohannad who works for Landmark. He said the only group we can reach out to is RERA. I did much back and forth with Mohannad but didn’t get anywhere. Let me know if you can get a hold of someone at RERA so we can push them for some answers, thanks!

I don’t mind a 70% or 80% refund in our money at this rate!

You can also check these tow sites which at least give us some hope that our Project might get built.

In this article you will see that Projects over 60% complete are being funded – of course German Sports Tower 1 is not 60% complete so we are not included in this Phase – perhaps the next phase??

http://www.emirates247.com/property/114-projects-under-guaranteed-funding-plan-2011-03-27-1.373319

Quote:
Property owners and investors in stalled projects across Dubai can approach the Dubai Land Department to seek inclusion of their project under the Tanmia initiative, Emirates 24|7 can reveal.

http://www.emirates247.com/property/real-estate/dubai-opens-property-lifeline-to-owners-and-investors-2011-10-04-1.421803

I am also led to believe from a web site on GPT 2 that SKE Holdings are refering people to Landmark Properties

http://www.landmark-dubai.com/

I emailed them but got no response.

Note: Landmark have an office on

Office #3
Best Homes Business Center,
Between 2nd & 3rd Interchange,
Sheikh Zayed Road, Dubai, UAE
Tel: +971 (4) 350 2888
Fax: +971 (4) 338 7669

I’m waiting for an official statement from RERA. These articles give us hope but some of this news is 6+ months old, and we haven’t heard anything from anyone in regards to these properties. Unless and until I hear back from RERA, I don’t think it’s safe to think that anything is happening.

well the old ceo of this company who is roland paxino is there in this link.check it out http://www.youtube.com/watch?v=tFAvvk9gM9U&feature=related

I did invest in the german sky tower ajman paid more than 2 milj dirham Ask intern law firm Clyde & co what to do but they can do nothing for me gr mobile 0031 653 326067 DUBAI 056 7351949 between 27 dec and 3 jan and 24 jan 2 febr

Ii paid more than 2 milj dirham for app german sky tower in Ajman Int law firm Clyde & co can do nothing for me What to do ?

correct e-mail adress pj.kantelberg@gmail.com

RE German Sky Tower Ajman

I was asked to transfer into this project but after my due diligence turned out to be far worser scam than GST2. There is nothing the Law firms or agents can do as the contracts are useless and not worth the paper they are written on. I really hope there is something we can do to get our money back!!

Like I said before we need to stick together and battle this out since these assholes have taken our hard earned cash and spent it on luxuries and other crap for themselves!!!

What do you think we should do? Get this group together and keep bothering RERA Dubai? I can start to create a group and start pestering RERA as a group since SKE Holdings and Landmark are no help what-so-ever.

Starting a group is a good idea.
Can we ask everyone concerned to give Admin details of what they have paid for to date – Building Title, Apt. No/s, approximate amount paid, contact dteails, etc. so that we can start to compile a group.
Could we agree to this?

My details are as follows: German Sports Tower 1, Apartment GST1-1102, paid Almost AED 646,000 which represents over 90% of the total purchase price, plus land registry fee AED 5,000. stuartrudman@hotmail.com

I also purchased flat 1007 in German Sports Tower 1. I have paid 85% 389,000 AED and dont know what to do. I invested my total life savings and now left without any answers or updates. Please add me to your group ass I would appreciate updates.

Many times Iv thought about taking legal action, but I wouldn’t know where to even start. Someone Please give me some advise…

Thanks,
Samar

Hi

That’s a great idea , hopefully RERA decides to take some actions in 2012…

My details :
German Sports Tower 1,
Apartment GST1-1002,
paid Almost AED 377,829.62 which is about 46% of the total amount 829,982 (695,710+ 127,315 Intrest) as I bought it self financed, plus land registry fee AED 5,000.
Email : shadi-nekavand@hotmail.com

Thanks
Shadi

I have two flats with Pyamod and would like to join any group for discussion and legal action against this company
Has group started? if not then I would start one

I paid more than %30 for German Sports Tower (GST1), and also 5000 dr to register the unit to my name through land department, if there is any information , please infom me.

Omid
+98-912-196-6082
omidniro@yahoo.com

Dear Admin,

If you can confirm the group as details have started to pour in, it can become difficult to put everthing in order at later stage.

I paid 90% for 1310 in GST1 adnan.quddus@hotmail.com

maybe this guy can help somehow, as he claims that h worked for pyamod: http://www.vonkachel.com/projects/pyamod-real-estate/

http://3idei.bloombiz.ro/video/thomas-midzielski/serviciile-in-ho-re-ca-din-romania-lasa-mult-de-dorit/791

he has shown up in romania out of nowhere claiming to have realized some big real estate deals in dubai. he crashed several business in romania, tried to rip of business partners, he even changed his name from “thomas midzielsk” to “thomas von kachel”.
as fast as he appeared he vanished to mallorca where he first started with kensington

http://pre.kensington-international.com/newsletter/diciembre2010/index_uk.html

but as soon as he had enough market intelligence, he left from there to start his own company: signature real estate

if he really ever worked for pyamod, he might have some insights…

Hey everyone; I had studied all of your comments. I had such problems and headaches. I gone to the court and follow my matter since 2008 till now. but they didnt return back my money and i paid big amount also to the lawyers. my friend told me about company that swapping and he did that so
i gone to the company and they said they will swap it to ready one. now I had swapped my units to ready projects. let me know if anyone want to solve his/her problems. they offered me very good offer and i accept it because i tried all other ways but no benefits. I can give their number. they might help you also.

Hey Daliya

You mentioned you swapped your apt for a new one?

There are many scams regarding swapping since further fees are applicable.

Kindly tell us all where,who and what you swapped to?

Thanks

Pin

Hi; I have now units in dubai marina and its rented. its ready properties and thank God all documents is on my name and everything is legal. I search about their company and they show me all documents.
actually compare to what i invest before, i saw the swap is win for me. because they gave me payments, ready property and also rental income. i didn’t want to lose my money. i search a lot and this was the only way that at least i didn’t lose it. because court is not refunding single dirhams. you guys dont waste your money for lawyers. i did that. i paid a lot for lawyer and unfortunately its took years and money from me. but in the end its up to you all. its my experience that i am sharing with you. also i had friends spending millions on offplans, i feel very sad for them. because single dirham didnt come back to them. hope to hear from you. sharing experience is good.

What is emwin.ae

Look at http://skeholding.com/contact/default.htm

I think it is a fake company?

Many regards

Hi Daliya

I am very happy that you have been able to swap your apt. Please send me the company’s email address so that I can see if I can swap mine. my email address is

stuartrudman@hotmail.com

I would be very greatfull for your help.

******VERY IMPORTANT*******

I worked at Pyamod for two to three weeks. I bought an apartment from
them in 2007 thru a real estate agency and then they closed the
contract thru a sales agent named “paul mokhtari” or Pouira Mokhtary Yazdi I later brought him
a few more clients from Iran and I would collect a 4% commission. no
one pays that much commission, and the only reason they did was
because they had no plan of building them. I later started working for
them as sales.
the head of pyamod is not Roland Paxino, even though it seems like
that. the master mind behind it is a man from Pakistan named
“eftekhar”
him and two of his brothers named “esrar” and “imtiaz” pulled off this
scam. this was well planned and they used Paxino as front man.
most of the money has gone to “Iftikhar” and his brother “Imtiaz” (he
was the sales director), they pulled off these scams and they knew
about it the whole time. and they had the sales persons such as
“mokhtari” get bribes and other gifts so they keep everything quiet.
Imtiaz and Mokhtari are still in UAE;
Paxino blew most of his money on furniture and his show room and
couple cars and boats, the best way to get anything out of this
company is to go after the master minds, they later opened another
company advertising the same concept “German Engineering.” their
company’s name is casamia. you guys have better chance of success if
you go after the three brothers and the sales persons.

Flat No. 806, 8th Floor
Righa Al Botain
Opp. Hotel Concord
Al Maktoom Street
Dubai – United Arab Emirates
Tel : +971 4 222 4858 (24 Hours)
Fax: +971 4 2211897
Mob: +971 50 2249940

After reading all of your comments I can assume that we all lost our money and there is nothing we can do about it, right?? Please correct me DID ANYBODY WAS ABLE TO GET EVEN A PENNY BACK FROM THEM? If so please advise so we can get our money back.
Thanks
ramtin.
ramtin@abadian.ca
+514-583-7253

Dear christian;
what i understand since i had done the swap as well that emwin.ae is the company who take the lands from ske holding and they will accept credit and will swap it into ready one. they have legal documents and its registered company. i had visit them. i guess ske holding is going to swap all their units. well i think its not bad solution because we all bought units wishing that we gonna have a ready unit in future. its disappointing that we didnt get the exact one but at least they swapping it and giving ready one. we have to apperaciate what emwin.ae is doing because i didnt give money to them. i gave to ske holding and now emwin.ae is taking care of it. well, at least there is someone who will answer us. what you think guys?

Emwin.ae or Emirates World Investments is a fake company, I am 100% sure, try to google emwin or Emirates World Investments there is nothing to see or read about them, and they havent a phone number on there website, it dosent look right.

I think the best way to get some attention is to talk to the media, and tell the hole world that many investors in Dubai have bin cheated, and goverment dont want to hekp, one of the investors have committed suicide because off all this.

The people who have bin cheated have now killed a person because of this :-(

Daliya – noone will swap unless there is a financial benefit to them. These people will only swap if you buy a much more expensive property and make even more payments.
How much are you now paying every month?? Have you saved money or are you now investing again.
The way it is done is this – they offer you a property that is already built and you sign over your documents from Pyamod (or whoever). In return the property they sell you is at least 70% more expensive than the one you swap with. That is because they are selling you a property that they have bought for say AED 1,650,000 added on the credit from your documents say AED 500,000 and then they are selling it to you for say AED 2,500,000 so infact they are making a profit of AED 350,000 from selling you another property.
I bet that you are now having to make monthly payments of about AED 25,000 or more for two or three years.
This is just a smart way of them selling property at a premium price when infact the property prices are falling.
Not only do they make a profit of say AED 350,000 but they also get your documents for free. So if your building gets built eventually (using the money that you have already paid)then they sell them and all the money is pure profit for them. They are in a win win situation and you end up paying far more than you wanted to, probably far more than you could afford, and also you end up paying well over the value of the property that you end up with.
Do you understand?? Or Daliya – do you actually work for them? I believe that you work for them and that you never owned a Pyamod deal at all. You have bought nothing from anyone but you are posting on here to get us all to fall for this / your new scam.
TELL ME THIS IS NOT TRUE!!

Dear john;
I am not scam and i am not beside anyone. well, thats make me really sad john. i had gone to lawyers. believe me i paid a lot to lawyers. unfortunately before this situation i didnt know how is the court over UAE or even the lawyers. i was keeping calling them all days and they wasn’t continuing with me the situation. not only one year dear john. i become tired of it. so i left it. then i knew that they are not going to pay for me and lawyer keeping asking money. he give me promises, what he done? did he return my money? no. it wasnt the money for me only but it gave me headaches. i was more angry as you are. but i didnt say for anyone that they are fake or scam.i hurt also, a lot they hurt. as dear christian mentioned they suicide because of this. i dont have money problem but i knew few pepole who sold whole life. of course I am human and real and i feel so upset even more than you for them. i dont earn my money easily as well. i am working hard to have it. more than 18 hours daily. i wont say fake or scam for my lawyers as well. i respect them. i do respect all pepole. they done what they can do. I am real Dear john. it was my experience and i wanted to share it with you guys. thats it. i am not saying to do what you dont like to. who is daliya? is she going to tak benefits from you? of course i am not. just i put comments as the others. so shall i call them also scam?
actually before to do swap, i was searching in google and i found awakash.com and i read all comments and i become sure that pymod isnt going to construct. so i found last solution . actually for my situation it wasnt bad idea. yeah, its right that i am paying now but i am satisfied. i know everyone is angry but its not good to say bad about someone who dont know it. well, in the end it was up to me and it will be also up to you. it was my properties and its your properties. you can do whatever you want to. arent you happy that at least there is someone to answer? i was happy actually . for financially; I am paying monthly more than what you mentioned. but the price was suitable for me and i didnt swap like this. it took me a lot to search. its right that they gave me bigger investment but they really support. i needed someone to support me after a long time investing here and after a long time of headaches. i told to the company if i knew that you had swap in 2008, i was coming to do it immediately.

If your story is true Daliya then I am pleased for you. I am even more pleased that you can still afford to pay high monthly or quarterly payments, something most of the rest of us cannot afford. Some of the people who purchased these aptartments are old and cannot afford more payments. They feel cheated, raped even by rich swindlers who have robbed them of their future and left them poor.
There can only be two reasons why a company would offer to swap your unbuilt apartment for one that is already built.
1: You have paid well over the price of this new apartment. As I said before they have bought it for say AED 1,650,000 added on the credit from your documents say AED 500,000 and then they are selling it to you for say AED 2,500,000 so infact they are making a profit of AED 350,000 from selling you another property and you are paying far too much for it.
2: They are sure that your off plan property will be built and the only way they could be sure of that is if they are the owners of the building site.
Tell me Daliya. What happened to your GST contract book? Did they throw it away? Did they get someone from SKE to change the name on the contract from yours to emwin? Did you meet with someone from SKE and both sign over the documents to emwin?
Tell us all Daliya, just who did you meet with and how did it work?

emwin’s web site looks like SKE Holdings – all flash talk but no substance, no phone numbers and probably no one to give us any information within two months.

Emwin dont dont write emails back, I send them 2 emails 1 week ago, But now the police will help us I hear.

christian – How will the police help us? Where did you hear this?

Hi everyone; dear john thanks that you knew that i am real. yeah, i agree with you, there are some people who cannot afford it as we got crisis in all business also not only in real estate. i had friends which suffered. but about calculation, well honestly i dont know but they gave me market price and facilities with it. i dont know if they put credit, will there must be law in uae, there must be something. because what i realized that dubai is taking care more than before about real estate and they put stronger role. as before everyone was developer even due they dont have money or knowledge. if its like that, they can not register in my name in rera. they give me exchange agreement and also they had my whole statements. there was one guy on behalf of ske holding overthere. i signed exchange agreement and POA, they took my contracts. i met someone there, they explained me everything. they said they might build 3 buildings but not now in future for those who doesnt want to swap. and what i knew also that there is no cash and only swap or waiting for those 3 buildings.they said that they paid to take this land as well and show me the papers. pyamod was belong to germany guy as others mentioned in comments. he runaway so sheikh saeed almaktoum took ske holding and emwin paid for land and they want to build 3 in future. so i can not wait more time for those buildings to be ready at least i will get rental even due its not covering much. you better contact emwin or ske holding to know more details, i wont advise anything because i dont want you to say that i am in someone side. you might check by yourself. everyone who bought has right to know and follow their matters. we paid for it. we paid what we worked hardly. i am in uae so i met them personally and i felt its better than calling to visit and see if they are good or not.

Hi Daliya
I am pleased for you. We are all pleased for you beause you have found a solution which you are happy with.
However, the rest of us still have the problem and most of us are no longer in the UAE.

What I find crimianal on behalf of those who have our monies is that they never contact us to give us any information. We do not know who is now holding our contracts / our money. Due to this silence it is best to involve the police to track down who is responsible.

Why do who ever they are tell the rest of us what they plan to do? Will they build our Projects? Will they swap for us at our original contracted price? OR will they give us back our money. If they are honest people then they will contact us all and inform us what is happening. If they are dishaonest then the Police will track them down and deal with them. We do not need lawers – we just need the Police.

I hope that it does not come to that but I am sure that it will unless those responsible contact us all very soon to explain what is happening. It is their complete silence thatmakes us believe that their intentions might not be honest and legal.

I agree John. They should come to us if the option is to swap or whatever. At this point, we’re not even sure if our money is in the escrow account. They did change the banks – it use to be Dubai International Bank we wired the money to, it’s change now. So they don’t even let us know how much is in there. I’m working on a form to collect names of people so we can work together as a group and ask them.

Admin – what complicates the money situation further is that the construction of GST 1 has commenced and stopped. This means that some money has already been spent hence even if our money is in the ESCROW account they will not have all of it and so they could not refund all of us the whole sum we have invested.
On the other hand, because the construction is party done perhaps we have a better chance of it getting completed someday.
The main concern I have is the total lack of communication on their part.

Hi guys I am currently in Dubai and will be going to SKE offices and also going to see the plot where GST2 was “supposedly” meant to have been built.
I am on 00971559801167 if anyone wants to contact me. I have a friend of mine (local property guy) who will try and help with SKE and also RERA.
From what I hear so far most of the money rfom the escrow account has been siphoned off by the government.
I will keep you posted.

Hi Pin – I wouldn’t be at all suprised that the money might have been siphoned off by the Government – They had to borrow heaveyly from Abu Dhabi to pay for the Island and the tall building. However, if they have our money it might mean that, in the long term, it is safe. However, GST 1 is part built so some of the money has definately been spent.
It would be good if you manage to get some sort of statements from SKE and RERA. It is not hearing anything from them that is the most disconserting and depressing.
Good Luck Pin.

Dear Mr.Nazih

Would you please update us the last events on PYAMOD case ?

Furthermore Do you know anyone could recover his/her money until now?

Thanks
Nima

Sunday, February 19, 2012
Dear Sirs

Reference to the common problem which happened for many of us in recent years that the PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts and INTERPOL, therefore it is much appreciated if help each other by developing a prepared form which I have the latest version.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

Eventually For Receiving mentioned Form you may contact me through: nimaghadirian@gmail.com

Thanks and Best Wishes
Nima Ghadirian

friday 2nd 2012
Dear Daliya,

I would kindly thank you for sharing your emotional feelings to us on this matter.
Please contact me on my email address: spikey2ice@hotmail.com

Dear Friends,
I just received a message from SKE for swaping the unit as follow:
Dear investor,

Greetings from SKE Holdings Ltd.

In response to the continues demands from many of our valued clients to shift their units to an on-going construction projects, the management has decided to offer a swap option to all of our clients interested in the swap. The swap will be in accordance to availability and unit sizes and shall take 1-month period to be finalized.

Please find below the procedure for such swap:

- Customer sends an expression of interest.

- Company will respond with current availability in several ongoing projects.

- Old contract will be cancelled and a new contract will be signed in which payments will be linked to construction in accordance to RERA’s guidelines.

- Customer payments will be locked in Escrow Account and shall not be used until the developer reaches an agreeable decent construction progress. Additionally, customer payments shall be used exclusively for construction purposes and not for any other purposes.

Hope of receiving your expression of interest and looking forward to assisting you in all of your inquiries.

I just wander if they sent the message for all the investors.

This Thomas Midzielsk or Thomas von Kachel seems like one of the guys creating this scam.

Hi Guys

First of all – I certianly have not had any contact from SKE Holdings. HAMID – What was the email address on the SKE Holdings email to you?

Admin – From where did you get the names Thomas Midzielsk or Thomas von Kachel ? I haven’t seen these names before.

Hi Admin – OK, I see who they are now. Certainly from the photos Thomas Midzielsk and Thomas von Kachel could be the same person. Has anyone else received an email from SKE?
The only email address you can contact them through, as far as I can establish, is

info@skeholding.com

I emailed SKE on 16th March but as usual there is no reply.
This must call HAMID’S comment into doubt.

Tell us more Hamid – end us a copy of your email from SKE.

Copy and paste it onto this page and include the senders details, date and time.

RESEND
Tuesday, March 20, 2012
Dear Sirs

Reference to the common problem which happened for many of us in recent years that the PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts and INTERPOL, therefore it is much appreciated if help each other by developing a prepared form which I have the latest version.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

Eventually For Receiving mentioned Form you may contact me through: nimaghadirian@gmail.com

Thanks and Best Wishes
Nima Ghadirian

Whom can i contact regarding the posts on your blog? somebody posted using my name and this is inaccurate information. i have never posted until now on this website.

x

RESEND.2
Wednesday, April 04, 2012
Dear Sirs

Reference to the common problem which happened for many of us in recent years that the PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts and INTERPOL, therefore it is much appreciated if help each other by developing a prepared form which I have the latest version.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

Eventually For Receiving mentioned Form you may contact me through: nimaghadirian@gmail.com

Thanks and Best Wishes
Nima Ghadirian

Now its time to find him http://www.interpol.int/en who can contact interpol?

CHRISTIAN – I’ve had a good think about it and concluded -

Why don’t YOU contact Interpol??????????

Because I use google translate to write here, I dont speak english that good.

But I try to help, I hope there is a person who can contact Interpol

Many regards

I think Interpol have speakers in every language. That is why they are INTER(national) POL(ice).

Give them a try Christian – I am sure they will understand.

I think you will find that INTERPOL speak every language. Hence INTER(national) POL(ice).

Give them a try Christian – I am sure they will understand.

I too had an email from SKE. Copied as is below.

Dear investor,

Greetings from SKE Holdings Ltd.

In response to the continues demands from many of our valued clients to shift their units to an on-going construction projects, the management has decided to offer a swap option to all of our clients interested in the swap. The swap will be in accordance to availability and unit sizes and shall take 1-month period to be finalized.

Please find below the procedure for such swap:

- Customer sends an expression of interest.
- Company will respond with current availability in several ongoing projects.
- Old contract will be cancelled and a new contract will be signed in which payments will be linked to construction in accordance to RERA’s guidelines.
- Customer payments will be locked in Escrow Account and shall not be used until the developer reaches an agreeable decent construction progress. Additionally, customer payments shall be used exclusively for construction purposes and not for any other purposes.

Hope of receiving your expression of interest and looking forward to assisting you in all of your inquiries.

Please feel free to contact us on office number +9714-3614047, +9714-3235720 or through email on info@skeholding.com

The Management

E-Mail: info@skeholding.com, Website: http://www.skeholding.com

When I replied back this is the email they sent me:

Dear Mr. Chana,

Hope this email finds you well.

With reference to your email dated 14th March 2012, we would like to inform you that we have received your email, and we have forwarded it to the relevant department who will be contacting you shortly,

In the meantime should you require any further assistance please do not hesitate to contact us.

Yours Sincerely,

From: P Chana [mailto:chana_1@hotmail.com]
Sent: Wednesday, March 14, 2012 12:46 PM
To: Information Desk
Subject: RE: Greetings from SKE Holdings Ltd. (GST2)

I am Interested please tell me more

Rupinder chana

Sent from my Windows Phone

Interestingly enough they CC´d another email address which is faridgunaim@gmail.com.

Anyone shed any light on this?

P.S Nima sorry for the delay in writing back to you its just that I have been travelling. I will email you back in a few days.

Hello everyone,

Every year these thieves take out a new plan this time is the “swap” asking to pay more. We do not know when they are going to complete those three ghost buildings. Be careful.

NWA.

A General Question:

Does anyone know if there is any Building still taking place at Sports City – by any Contractor?

Or has building stopped at Sports City all together.

Can anyone answer that for me please.

RESEND.3
Saturday, May 5, 2012
Dear Sirs

Reference to the common problem which happened for many of us in recent years that the PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts and INTERPOL, therefore it is much appreciated if help each other by developing a prepared form which I have the latest version.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

Eventually For Receiving mentioned Form you may contact me through: nimaghadirian@gmail.com

Thanks and Best Wishes
Nima Ghadirian

Hi all dear loser
I think the best way is complain against Pyamod and Dubai Government, because they are all hustler.
I believe, an International court can help us. What is your opinion? You think it may be useful?
Rera and land department support developers like fake Pyamod, SKE holding, etc.
I’m ready to start complain. If you are welcome.

I am really concerned about GST1, the contractor is currently dismantling the tower crane that was marking the site now for the last 4 years.

Any updates on GST 2????

Dear All,

i was contacted by SKE, and their offer was to swap my 340k studio apartment with 990k one bedroom apartment and asking me to pay the diffrence!!

this is the current market price thier stated.

Who from SKE contacted you? Can you please provide their name and e-mail address? It’s strange that only some people get notified and not all of the investors; I know I haven’t been.

Does any one know whats the status on the construction i live in France at the moment its very expensive for me to travel to dubai i have 2 bed room property in Supreme Tower 2 i realy need to know whats the status and if any of you been able to get your money back please update me i keep calling these scam artists but they keep bullshiting me with their transfer please send more money and shit like that i would be great if i hear it from you guys

i feel cheated, by Roland Paxino fake Scam Artist

VERY IMPORTANT

I found the The scam artist this is your only chance to get your money back yes i found roland paxino who stole all our money
http://www.facebook.com/photo.php?fbid=207009269368756&set=a.158352347567782.38169.100001790533357&type=1&theater
go to your facebook and look for roland paxino and see it for your self each car that he has in his profile is almost 400,000$ even i heard he bought a private jet with millions of dollar spended on houses he bought in europe we have to call interpol to catch this guy he has all our money if all of us open a case against him they will catch him and bring him back to dubai its easy for police to trace him down where he logs in to his facebook go to the link and see it for your self how our hard working money and how he spends them

you can reach me in paris 1-855-269-5374 thanks

http://de-de.facebook.com/people/Roland-Paxino/100001790533357

copy paste this link and see it for your self all our hard working money

i was contacted by Mr. Loai from SKE

this week i was contacted by a lady from SKE asking about what happend with the offer.

i said im not intersted she said she will call back.

iaiaworld@hotmail.com

We have to report roland paxino to international Police to catch him and bring him back to Dubai

Dont worry people, roland may have stolen your money, but then again money comes and goes. One thing we can all take from this thou is that you dont nessesary have to be the investor to make money, in some cases, its the investee, or the the owner of the property being invested in who gets the last laugh.

The “swap” is another scam to take advantage of the victims; please be careful. Your best bet is to group and get together and exert pressure on Skyhold, RERA and Dubai Government. Maybe that will produce result.

I visted them last January for the “swap”; they offered me an apartment which cost 1.5k AED (in the market) for around 2.k AED. in another words, they trick you to make money of you and get the right for your original unit.

Please anybody, any news about the latest update regarding GST1 and our projects? Thanks

Why dont you try to catch Paxino in Frankfurt where he is located and having fun from your money: http://de-de.facebook.com/people/Roland-Paxino/100001790533357

Skyhold will be forced to solve this problem sooner or later

RESEND.4
Tuesday, January 8, 2013

Dear Sirs

Reference to the common problem which happened for many of us in recent years that PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts, therefore it is much appreciated if help each other by participation in a notification program.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

Thanks and Best Wishes
Nima Ghadirian

Do you know who is actualy collecting information regarding all fraud victims and persuing this matter with UAE jurisdictions? How can we join in or assist?

I purchased a unit in German Tower 1 in July 2007 from an agency called Forever Property and I paid 20% and I would like to join. Please contact me on my email and telephone +44 7862216032.

Anybody have any update about Pyemod projects; please let’s know. Skyholding is obliged to finish and solve this case! Thanks

Hi friends. I was watching YouTube about German engineering in Ajman. After reading some comments I landed in this blog. After carefully reading each post I feel very upset. No one has right to take a common man hard earned money. It’s been told to every one according to their faith .
But trust me there is a day .
Judgement Day. Dooms day. Qiyamah day.

When all of you victims of this cunning man will be reaching out to his neck and dumping your bad deeds on his face .
Then he will be burn in the Hell FIRE. FOREVER.

I wish everyone of you best of luck. And you will be also in my prayers.

May ALLAH bless us all. Aameen.

I want to join in on this class action lawsuit, do you have any details?

I purchased 3 units in German Tower 1 in Feb. 2008 from agency 4you and I paid 40% and I would like to join. Please contact me on my email mojee@gmx.de and telephone +49-2013680064 or +49-175-5722704.

I invest more than 2 million in German sky Tower in Ajman .
Roland Paxino has all the money. What to do now ?
Please contact me on my email or dubai nr 056 73 51949 or my mobile nr 0031
653 326067

I wish to go for lawful action against Ske Holding, if anyone wish to go for same action and share the costs; welcome. please contact with me.
my contact details
Phone: +46 70 99 88 748
refayeth@hotmail.com

I too purchased an office at the German office building, it has since changed its name. I am from the UK and if anyhow has any update on this scam I would appreciate it. I will be visiting Dubai in a few months and will make sure I find out some answers and see what legal measures are available to me.

Regards

Sean

Has anybody gone for law suit, I have paid in German sports tower 1 in full as well, let me know adnan.quddus@hotmail.com

I’m still trying to find someone from the states but after contacting numerous companies and bar associations I’m unable to find someone who deals with the laws and regulations for UAE. There is the National Bar in London, UK – I’m going to try to reach out to them soon to find details on what we can do because I don’t live in UAE.

it saddens me to hear that many of you invested alot of money and gave huge deposits for these apartments. You should all come together and bring a class action lawsuit against this man Roland Paxino. I am sure many prominent law firms would take this case. You could work out a percentage fee with them or they might even offer to do it pro-bono for the publicity.

This has probably given most of you insight not to trust anyone. If something sounds too good to be true, it probably is and paying something upfront for a project that hasn’t even begun construction is very risky. Especially building developers that ask for over 20% deposit.

My advice to future investors (i have a brother who is a financial adviser who lost tens of thousands of dollars on the stock market and thought about killing himself, thank God he didn’t) BUY GOLD BARS AND PUT THEM UNDER YOUR BED. thats the safest investment thats guaranteed a good return and value long-run. The price of gold has increased 10 times in the last decade.
And it has been of value and traded for thousands of years.
im a medical doctor so i dont know that much about finance but hey, i am sure this is the only thing in the world that is guaranteed to value 10,50, 100, 1000 years down the track. currencies are relative and unpredicatable especially the US dollar as the fed res prints money out of thin air. invest in gold people.

Thanks for the advice. I’ve been looking for a firm to help us, if you know of any that would be great. I’ve emailed the BAR association in the UK and even they haven’t reached back to me.

invested in GST 01, 0506170863 aludik@alec.ae

Reference to the common problem which happened for many of us in recent years that the PYAMOD company signed various unrealistic construction contracts for various projects, we are going to collect information regarding all of the fraud victims,enable us finally refer to UAE Jurisdictions and even follow the matter internationally through international courts and INTERPOL, therefore it is much appreciated if help each other by developing a prepared form which I have the latest version.

Furthermore you are kindly requested to inform this program to any of your family members or friends to accelerate data collection process.

http://www.youtube.com/watch?v=PCODxKeNJT8&feature=youtube_gdata

watch this its sad

http://www.youtube.com/watch?v=PCODxKeNJT8&feature=youtube_gdata
copy paste this video this is where all the money is

also the new information I found he is owner of http://www.doobacco.ch

Overview

Overview over the most important details of Roland Paxino.

Professional career
These are the latest professional stations of Roland Paxino:

since January 2012:

manager of swiss doobacco GmbH

Apr. 2011 until Nov. 2011:

manager of swiss doobacco GmbH

Harald Klein since Apr. 2011 about swiss doobacco GmbH
Rolf Fenner since Jan. 2012 about swiss doobacco GmbH
Jürgen Kamionka since Jun. 2012 about swiss doobacco GmbH
Show full network

Start-up companies, insolvencies and liquidations
Roland Paxino has in his professional career (co-) founded, filed with no company bankruptcy and no company deleted or liquidated.

Show start-up companies, insolvencies and liquidations

Very disturbing video, I really hope karma will come back and haunt this guy, for all of us investors that have lost thousands with this guy, watching that video would make you sick!
I will be in Dubai next year but again it’s like nobody cares or can actually advise you want to do. I have heard nothing from this company in almost 3 years!

I want to visit Dubai and bang on some doors. I invested in GST2 and paid like 40%. In 2010 I was offered a move to GST 1 that I accepted. But that came to nothing too. Who is now incharge of these projects of Pymod? Who’s door do I knock in Dubai?

Hi All,

Does anyone has any news about status of German Sports Tower one project?

Pls. let me know! my email address is: amiremami51@yahoo.com

Regards,
Amir

similare case , invested in a 1 bed flat GST1 back in 2008, paid 90% , I leave in London ,
e-mail:kedrir@yahoo.com
mob:00447877284040
if we unit an organise ourselves we can take the matter to Dubai high court all we need is a well known lawyer !

Anyone have any luck on getting hold of SKE or other ****holes for updates etc?? Waited too long now so I suspect that any form of redress is long gone.

Some good news i think, check http://uniestate.net/, German sports tower 1 , construction has resumed, renamed Uniestate sports tower.

GOOD NEWS

I have won the case that i opened in DIAC arbitration at dubai chamber of commerce, It cost me around AED 117k. now my lawyers are working on it, please refer to below quote:

‘Quoted

Ref: Mr. Arian Vs. (1) Pyamod Homes Consultancy FZE (2) Pyamod Middle East Real Estate Brokers (DIAC Case No. XXX/2013)

Congratulations ! We refer to your above mentioned matter and are pleased to inform you that the Tribunal has issued its Final Award and it is in your favor. Please find below the brief of the Final Award issued:

1. The Sales and Purchase agreement dated July 16, 2008 stands terminated;
2. The Tribunal orders both the Respondent to make a payment of three hundred forty three thousand two hundred and ten Dirhams (AED 343,210) with nine percent (9%) interest per annum from August 3, 2008 till the date of payment; and
3. The Tribunal orders both the Respondent to make a payment of one hundred seventeen thousand Dirhams (AED 117,000) toward the expense incurred as Arbitration cost with nine percent (9%) interest per annum from the date of issuance of Final Award till the date of payment.

We shall now sent a Notice to the Respondent to adhere with the Final Award issued. However if they do not respond we shall proceed with the filing of enforcement in the Court of Dubai.

Unquoted”

I’ll keep u updated if any changes happened.

Regards,
Arian (From IRAN)
00971556024209

anyone with any updated on german Supreme Towers in Global village please update as i paid 80% of the unit

German Sports Tower is now 33.55% complete.
Now called UniEstate Sports Tower.

So what is the situation now for investors? I undertand that the original German Sports Tower project has been ‘cancelled’. If that is the case and the German Sports Tower development has been bought by UniEstate do the original investors still have a claim to their apartment? Or are UniEstate now free to resell our apartments? How should we move forward to make a claim on the apartment?

As I mentioned on “Comment by Arian on March 18, 2015 @ 7:42 am” I have opened a case against (1) Pyamod Homes Consultancy FZE (2) Pyamod Middle East Real Estate Brokers (DIAC Case No. XXX/2013). luckily I have won the case in DIAC and now is the time for enforcing my claim through Dubai Court.
here’s the comment received from my lawyers

“Quoted
To proceed further with the case in Dubai Courts, following official fees will be applied

a.) Dubai Court Fees 30,020/- per Unit
b.) Expert Fees (If Required) 15,000-20,000
c.) Translation Charges 100/- Per Page
d.) Summon Publication Charges 350/- Per Summon (5 Summons can be issued Approx.)
e.) Execution fees after Winning 5,020/- AED per unit
f.) Appeal Fees (if required) 6,020/- Per Unit
g.) High Court Fees (if Req.) 1,520/- AED per unit

Unquoted”

unfortunately I do not have the money for court and I have passed half of the way and spend AED 117,000 (considering one and half year in court) for DIAC Court. once above charges are paid Dubai Court will look for the person responsible for all our payments.

if anyone is willing to pay the Dubai Court charges for my case, I can guaranty to return his/her money back after i received the hole money back from Pyamod company. this could be good for you how:

1) once we find the responsible person and they see that we have received the court approval for payment you may also be able to negotiate for return of your money. this could be a good option for Pyamod if they accept because they should not pay the DIAC and Dubai Court charges if they agree to pay for other owners.
2) other thing is that the hole process if anyone wants to take to court will cost about AED 200,000, with my option you will pay Approximately AED 70K and we will get to know if the hole process is going to work or not. beside if everything goes right you will get your money back at the end and then choose to either start the negotiation with developer or if it worth to take action and open case same as i did.

Here’s my number again in case you wanted to contact me.

00971556024209
Arian (From IRAN)

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me and my brother bought two apts.in German design tower 1
and have totally paid 500000 dhs.almost 30%.
my no. +98 912 1272634

Did anyone else got their money back please update us

Roland paxino is now doing romance scams..he can be found on a few different dating sites, one being badoo. He is asking for vacation leave forms to be filled out, he also refered me to a fake bank site. His current email is rolanpaxino678@gmail.com and he has a contact address in florida , usa..i can give you the exact address if you would like to email me. The contact house is up dor sale so i dont know how long that address will be valid for.
The fake bank site is royal atlantic bank, brussels, belgium.
All this information is current , and im hoping people get a chance to put it to good use

Kim give me your email address .

Liz, if u wanna give me yours ill reply ????

I wait for your email kim . He’s on me this time

I wait for your email kim he’s on me this time

I’m still waiting for you kim and or lorie .

Does anyone got more on this

if any of you guys have any information my email address is arilarijani@gmail.com

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