Media interest in Muhammad Tahir Lakhani and his family members has dramatically increased over the past few weeks due to the exposure of the illegal business activities of Mr. Lakhani’s UAE based company, Dubai Trading Agency (‘DTA’), and its affiliated companies across the globe located in the UK, Singapore, Pakistan, and Marshall Islands.
Mr. Lakhani, his wife Uneza Tahir Lakhani, and his two sons Muhammad Ali Lakhani and Muhammad Hasan Lakhani had their criminal enterprises exposed to the world via a British High Court judgment delivered in October 2020.
The court case was regarding several commercial loans that the Dubai Trading Agency (aka DTA) under the management and guarantee of the Lakhani family received from Yield Street Management, a US based investor group that finances maritime commercial deals. The loans were provided by the latter in 2018 and 2019 which totaled over $74.6 million dollars. DTA was supposed to use these loans for the purchase of ships meant for recycling, but DTA did not even purchase one vessel. Forensic accounting revealed the Lakhani family pocketed the money for personal use.
What is truly extraordinary about this case is the brazen nature of the crimes and the fact that Muhammad Tahir Lakhani, his wife and sons now live an extravagant jet-setting lifestyle in Dubai, the UK, Pakistan and Singapore in a manner that only the rich can enjoy.
The UAE, which prides itself on supposed business transparency, has allowed the Lakhani family to continue operating on its territory. The Lakhani family main Emirati sponsor, Dr. Abdulrahman Al-Naqbi, from Ras Al-Khaimah, owns 51% of DTA.
Mr. Lakhani, his wife Uneza and sons Ali and Hasan own a wide range of luxury properties, high-end collector cars and several yachts. Since the judgement was reached against the family, Muhammad Ali Lakhani and Muhammad Hasan Lakhani have continued posting photos of themselves on Facebook and other social media platforms that show them living in the lap of luxury. A recent leaked asset disclosure document confirmed some of the properties, yachts and a dazzling array of luxury cars owned by the Lakhanis that include:
- A luxury 276 square meter apartment located at 23 Marina, apartment 3504, plot 163, Dubai Marina, UAE. (Dubai Marina became one of the world’s tallest residential buildings and is currently the fourth tallest skyscraper in the UAE. The luxury tower includes 48 exclusive duplex apartments and 57 swimming pools).
- Apartments number 605 and 613 located at Dubai Investment Park, UAE.
- An apartment in the Palm Jumeriah Dubai, UAE.
- A property located on Al Reem Island in Abu Dhabi, UAE
- House 22/1, Street J, Phase 6 Khayaban-E-Muhafiz DHA, Karachi, Pakistan.
- House 23, Street J, Phase 6 Khayaban-E-Muhafiz DHA, Karachi, Pakistan.
- House 24, Street J, Phase 6 Khayaban-E-Muhafiz DHA, Karachi, Pakistan.
- 2016 McLaren
- Mercedes G-63 Class Jeep
- Nissan Patrol 2015
- 2017 Bentley
- 2016 Porsche GT3 RS
- 2014 Porsche Cayenne
- 2017 Range Rover Sports
- Mercedes S Class Car
- 2014 Porsche Boxster S
- 2017 Bentley Continental GTC
- 2019 Range Rover
An independent authentication of the documents confirms the ownership of the above properties, apartments, yachts and vehicles belong to either Muhammad Tahir Lakhani, his wife Uneza Tahir Lakhani, or his two sons Muhammad Ali Lakhani and Muhammad Hasan and/or to the DTA and/or its affiliated companies.
The expert who verified the ownership of the different assets reviewed relevant land registries and tax regimes in the relevant national and international jurisdictions.
Given the scale of the fraudulent activities of Muhammad Tahir Lakhani and his immediate family members it is absolutely astounding that Mr. Lakhani is still able to operate from the UAE and act with impunity. Given the current status of Emirati – British relations, this could further sully the rapprochement between London and Abu Dhabi.