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Umana Developments housing scam….Swindler goes missing, yet to pay compensation–victims

Dec 20, 2011 News

 

 

Victims who were swindled of millions of dollars by purported housing developer Fazil Ramzan, of Umana Development who was accused of fraud and had promise restitution has disappeared, according to several of the victims.
Fazil Ramzan had been freed of several charges of taking ‘clients’ money and promising them homes but never delivering on the deal. Many of those victims Ramzan had promise to repay if they had withdrawn the charges. To date those who have withdrawn the charges have not been compensated.
Many irate victims of the swindle visited the Brickdam Police Station earlier this year to give written statements against the accused fraudster who claimed that he was developing a housing scheme at Sarah Johanna, East Bank Demerara.
Victims claimed that Ramzan received payments from local and overseas-based Guyanese towards various housing projects. However, at the same time the developer was engaged in a court battle over the lands intended for the project—lands that he had lost last year.
Umpteen reports have been made against Ramzan and victims are appealing to the police to find the man and reinstitute charges against him.
Investigations further revealed that Fazil Ramzan, in 2009, promised to build 2,600 state-of-the-art homes at Friendship Mews, and at Sarah Johanna Gardens. And the gated community that was to be set up on the East Bank Demerara was slated for completion in three years’ time from the projected start of the project. The deadline would have been 2012.
It was also disclosed that Fazil Ramzan, as the Chief Executive Officer of Umana Developments Company, and was supposed to build 100 acres of land to accommodate 600 homes, while the Friendship community would sit on 200 acres of land and will have 2,000 homes.
At that time the cheapest house was touted to cost $4.6 million while the cheapest house at Friendship would cost $9 million; the prices were already inclusive of VAT.
Fazil Ramzan claims to be a well-qualified engineer and a person with vast experience in Finance and Administration, both in North America and in Guyana.

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