Dubai Suitcases of Cash Circumvent Loan Rules: Mortgages
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Dubai real estate agent Laura Adams remembers the Iranian homebuyer because of how he wanted to pay.
“He literally put a suitcase on my desk, opened it up and it was full of 1,000 dirham notes,” the Carlton Real Estate managing director said in an interview. “I asked him to go across the road to Western Union and get it exchanged for a manager’s check, half a million dirhams ($136,000).”