Swindler placed on bail after stipulated 72 hours

May 17, 2011 | By | Filed Under News 

… Umana Developments housing scam

After being held for the stipulated 72hours in police custody, Fazil Ramzan, of Umana Development who is accused of defrauding several members of the public was released on station bail yesterday.
The maximum period a person can be held in custody is 72 hours, after which the individual must be released, placed on station bail or taken to a remand facility.
Fazil Ramzan is accused of taking clients’ money and promising them homes but never delivering on the deal.
Many irate victims of the swindle visited the Brickdam Police Station yesterday to give written statements against the accused fraudster who claimed that he was developing a housing scheme at Sarah Johanna on the East Bank of 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 Director of Public Prosecution to institute charges against the fraudster so that justice can prevail.
Investigations further revealed that Fazil Ramzan in 2009 promised to build 2,600 state-of-the-art homes at Friendship Mews, and at Sara 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.

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