Square Yards — Promoting Fraudulent Investments Globally

Address:	35427
Website:	www.SquareYards.com

Complaint Summary:
An USA based commercial space company (http://www.barworks.nyc/) who is doubted to be run by Ranwick Haddow (An under trial Scammer in UK for running capital alternatives), Legal action against them are initiated in USA Click on below link for full detail:
http://www.redd-monitor.org/2017/01/17/bar-works-the-return-of-renwick-haddow/#c...⇄
Fund raise being done globally through agents sharing high brokerage i.e. 20%. There is no communication for the last two months and return have been stopped. Agents also have now just raising their hands. Investor on the other side are helpless & under panic for losing their life saving, obviously it’s not bar works who came to investors, its agents who approached investors and advocated their product. So if Bar Works turned out be scam, Agents should held responsible equally.
This complaint is mainly against agents like M/s Square Yards so that other UAE residents can be protected from this ongoing scam, and we can get the justice from UAE government.
Charges against Square Yards Real Estate Agent (Located in UAE (Abu Dhabi, Dubai, Sharjah), India, Honkong, Singapore, USA, London, Qatar, Oman
1. Lack Of Due Diligence : Promoting a fraudulent investment in UAE and other overseas country without doing thorough diligence, which turned out to be a scam now Jonathan Black (Ex COO Bar Works), who in reality does not Exists, Square Yard has no clue of this man and they says that they have done due diligence before promoting Bar Works. (Annexure-I:REDD Monitor & US Announcements to prove that), So Square Yards took risk on investor money and now they since it turned out to be a scam, they must refund investor money as part of the penalty to their mistake.
2. Illegal Overseas Investment Promotion: Square Yards don’t have license to promote overseas business in UAE, but they did it. So it’s illegal.
3. Considerably Higher Brokerage: Considerably higher % of brokerage i.e. 20%, usual brokerage in real estate market is less than 5% (Annexure-II: I have an audio clip of sales manager from Square Yards to prove that).
4. Official Email with Guarantee & Safe Investment: Square Yards approached me promoting bar works San Francisco in August2016, and I have invested $60K over your assurance. (Annexure-III : Promotional email with assurance on Bar works return by Square Yards)
5. I have email showing sense o[censored]rgency for loan clearance from ADCB by Square Yards, Why it was done? When you are not promoting something, how can you advice your investor to invest in that? Is not this cheating/fraud/scam? (Annexure-IV : Email showing pressure from bar works is attached)
6. Intentional Crime:
a. “Intention” of agent need to be define here, whether they did through diligence or simply went for higher cut of commission, and how much high it is? 5% is the standard rate, however if they have taken 20% or more than that how they justify BW return? which is:
- 12-16% annual, for two years its 24-32%
- 25% on exit after two years
- 15-20% agent fee
- BW sales fee
- BW operational expense (Salary, Promotional expenses etc.)
Note: We came to know above from REDD Monitor website, can be approached on [protected]@gmail.com
b. Square Yards again approached me in March2017 for bar works Istanbul assuring its coming with higher return 15-16%, and this is done while Square Yards has their own convertible notes launched, but the focus was on Bar works. After all the assurance I invested $90K loan money, which I was planning to use to buy home. (Annexure-IV : Email showing pressure from bar works is attached)
c. Investors On Risk: Tanuj Shori (CEO of Square Yards) told to Konrad (Real Deal Editor), that Square Yards is not promoting Bar Works since Jan2017, than why I have been put in trouble selling this in March2017? Editor can be approached on below :-
Konrad Putzier | Reporter | O:[protected] | [protected]@therealdeal.com

7. I personally met Mr. Aaroon & Mr. Araj in SY Abu Dhabi Office, they knew the whole story, my future planning & all that. (Their contact detail is provide below)
8. Square yards is the one who approached me, and not bar works, they must be counted for promoting this fraudulent product even after they realized in Jan2017 the continued till March-April2017, They knowingly let the investor put their money i.e. which is intentional crime.
9. SY paid for your consultancy skills while proposing this to us, now they don’t have right on the brokerage as their investment turned out to be a scam, and there should be provision of penalty over them to recover investor money.
10. Breaching the trust of investors, as investor followed the advice from agents.
Square yards cheating history http://www.SquareYards.com
- Square Yards being charged in Singapore for similar fraud. Below is the link (Annexure-V):
http://www.businesstimes.com.sg/real-estate/square-yards-slapped-with-fine-six-m...⇄
- Square Yards being charged in India for fraud in India, below is the link (Annexure-VI):
http://www.thehindu.com/news/cities/Delhi/court-orders-fir-against-real-estate-f...⇄
- https://repdigger.com/reviews/squareyards (Annexure-VII)
- https://www.complaintboard.in/complaints-reviews/squareyards-l612308.html (Annexure-IX)
- http://economictimes.indiatimes.com/wealth/personal-finance-news/square-yards-partners-us-based-barworks-inc-invest...⇄
- http://www.thehindu.com/news/cities/Delhi/court-orders-fir-against-real-estate-f...⇄ (Annexure-XI)
- http://www.ripoffreport.com/reports/square-yards/nationwide/ms-square-yards-tanu...⇄
- Square Yards is more than an agent for Bar Works :-
http://economictimes.indiatimes.com/wealth/personal-finance-news/square-yards-partners-us-based-barworks-inc-invest...⇄ (Annexure-XIII)
Requested Resolution:
1. Full or Maximum refund of an my & other investor money
2. Legal action against responsible and Very high penalty on such investor, so that it will be a lesson for other investors before committing such a mistake.
3. Business ban in GCC

Office Location: Square Yards Abu Dhabi
Office no 603, Abu Dhabi Plaza Building, Fatima Bin Mubarak Street, Next to KFC Building
Office Location: Square Yards Dubai
Office No-2501,[protected], 25th floor, Sheik Jayed Road, TECOM, Plot No-002-002, DubaiUAE
Office Location: Square Yards Sharjah
Office No - 136, Ground Floor, Expo Center Sharjah, Al Taawan. P.O.Box 3222, Sharjah, United Arab Emirates
Contact Persons / to be Arrested Immediately
Mr. Tanuj Shori – CEO (Hong Kong: +[protected], India: +[protected], UAE: +[protected]
Mr. Anupam Rastogi – Gulf Head (+[protected]
Mr. Araj Mittal – Sales Manager (+[protected]
Mr. Aaroon – Abu Dhabi Head (+[protected]
SEC USA Legal Action Against Bar Works & Renwick Haddow – Jonathan Black:
https://www.sec.gov/litigation/complaints/2017/comp-pr2017-123.pdf

Sincerely

Kamal Singh (Complainer / Beneficiary)