Ismagil Shangareev – $15 million Real Estate Scammer in the UAE
Ismagil Shangareev is a Russia-based Kazan native who ran a fraudulent scheme in the UAE through Dan Real Estate LLC.
By using this shady company, he claimed to sell real estate investments in the Ajman city of United Arab Emirates.
Authorities estimate that Ismagil scammed hundreds of Russians through Dan Real Estate LLC.
Did You Know?
LLC stands for Limited Liability Company. It is world-wide spread business concept that prevents the owners of firms, from being held responsible for the debts of the company. Debt of the company are to be paid by the company and is not a responsibility of the owner alone.
The scheme was simple. In his scheme, the tourists coming to the UAE would see advertisements in hotels for the sale of real estate investments. Those advertisements would have promises of attractive interest and profits.
Then, when the victims would respond to the advertisement, Ismagil Shangareev would invite them to the office of Dan Real Estate LLC in Ajman.
Here, he would impress people by showing pictures of prominent celebrities, spiritual leaders, actors and politicians. Afterwards, he would make himself seem more credible by showing a bunch of documents and contracts.
By using this tactic, Ismagil Shangareev used to show himself as a reliable and reputed businessman.
Sometimes, he would invite his victims to his restaurant named “Kazan” in the UAE. If somebody was too much in doubt, he would even invite them to his house and introduce them to his family.
Authorities later discovered that several members of Ismagil’s family were involved in the scam as well. In fact, Ismagil’s son was running Dan Real Estate in Russia.
Ismagil Shangareev Made $15 Million Through The Scam:
According to the investigators, Ismagil had made $15 million from this fraudulent scheme since 2013. Although some of his victims have received brief refunds, most of them haven’t received anything in return.
On average, every victim of Ismagil Shangareev paid him $130,000.
Ismagil has met with many Russian celebrities including pop stars, clergy leaders and politicians. By using his pictures with some of those people, he was able to make himself seem like a reliable and devout person.
He didn’t even hesitate to deceive Muslims and some of the victims were his own countrymen.
Investigators found that Dan Real Estate had violated several UAE laws. Hence, the clients of Ismagil Shangareev were entitled to full refunds along with legal fees and other compensation.
It also means that authorities can seize all assets under the possession of Shangarev family.
Real estate investments seem quite lucrative and hence, the industry has a ton of scammers as well. You should be extremely careful when dealing with anyone who claims to offer attractive real estate investments.
For example, Aamir Waheed Orlando FL is a scammer who stole millions from people in the US through his real estate scam. Another real estate scammer is Nick Carlile who used to sell hotel investments in the UK.
It’s obvious that Ismagil Shangareev is a selfish scammer who you should avoid at all costs.
Ismagil Shangareev is a fraudster in the UAE who scammed numerous tourists and earned over $15 million. Beware of him and his fraudulent real estate company, Dan Real Estate LLC!
- Investigated by authorities
- Made $15 million illegally