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Al-Araby
Al-Araby
UAE federal authorities are investigating a real estate company chairman over allegations of financial violations. The company is under investigation after complaints were filed by the Securities and Commodities Authority, and the Federal Public Funds Prosecution requested Khalifa al-Hammadi chairman of Dubai-based Union Properties PJSC, be detained, Bloomberg reported. The investigation began due to allegations that the firm sold property at less than its real value and hid the name of the beneficiary of the sale, as well as forgery of documents and other violations, a statement from the UAE’…