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Assalam Alaikum,
The KW Investors Forum have been committed to serving the best interests of all those who have been victim to what increasingly appears to be a very large scale fraud perpetrated by Atif Riaz Naz. On 14 August 2008 we received information that the Dubai Pearl property was actually bought from money taken from all investors funds. On 15 August 2008 we received information that Waseem Yaqub had for a long time been trying to sell and was now in the final stages of selling the Dubai Pearl property despite telling investors that he was not involved with it.
Immediately KW Investors Forum initiated emergency legal action to either prevent the sale of the property or to freeze the proceeds of sale. By the grace of Allah SWT, the legal team at KW Investors Forum have obtained an interim High Court Injunction Order freezing the assets of Atif Naz and Knight Wazir in the UK and Worldwide on 20th August 2008, upto the value of the losses of the investors who signed up to the Application.
The order is being served on Atif Naz at his last know addressses and by email, and all his associates who may have control or influence over his assets, including Waseem Yaqub, ex staff and Quest. The order states that anyone who breaches the terms will be in contempt of court and imprisoned. There is specific reference in the freezing order to the Dubai Pearl property and any sale proceeds related to it. A copy of the order is attached. On 21st August 2008 the legal team filed a claim against Atif Naz and Knight Wazir. A copy of the Claim is attached.
Alhamdullillah all this work has been carried out for free by the KW Investors Forum legal team aside from paying the Court Fees to lodge the Claim form and Order. Peters and Peters Solicitors had informed investors on 22nd July that to reach this stage would cost around £100,000. This can be seen from the fact that the High Court Judge added 100K, representing our legal costs, to the claim. So the Judge estimated that a legal firm would have charged 100K to get us this far.
It is also significant to realise that a Judge in the High Court of Justice, after seeing the evidence, was satisfied that there was an arguable claim that fraud had taken place to grant a freezing injunction over all of Atif Naz's and KW assets worldwide. It is very unusual for a world wide freezing order to be granted. This shows that the case is very strong and that the evidence clearly points to fraudulent activity. The case is so strong that some very senior city Law firms have agreed to consider taking the case on on a no win no fee basis and they will be looking to recover our losses as well as their own costs from institutions like Saxo Bank or Quest if we win.
However the amount of we have frozen the assets for and the amount we can claim for can only be worth the amount the claimant's have actually lost. At the moment there are 7 Claimant's with a claim for around £1.5 million in total, this means that the amount we can freeze and claim for cannot exceed that amount. Furthermore whilst our aim is to retrieve as much as possible for all investors we can only claim on behalf of those who are willing to allow us to claim on their behalf. In order for the amount of the freezing order to be extended, additional investors need to agree for their name to be included at the next hearing, which is scheduled for August 28th.
What we need to do now is to add as many claimants as possible to the freezing injunction and associated claim. The legal advise we have been given is that everyone must realise that any recovered funds as a result of this legal action are legally only shared between the claimants to the action. Those people who do not make a claim are assumed not to be interested in recovering their money.
Please we urge you to add yourself to this claim as soon as possible. We have attached the Affidavits of Mohammed Adil Rehman sworn on 18th August 2008 and Mohamed Safdar sworn on 15th August 2008. Once you have read these please read the template affidavit. If you agree with its contents please fill in the spaces and delete whatever is irrelevant and add anything else you may think has been left out. Once this has been completed please print out and get this signed/sworn in front of a solicitor/commissioner of oaths. They will charge you about £5 to £20. Please urgently email me a scanned copy or fax the completed Affidavit to 0208 478 7094.
The last paragraph of your Affidavit reads: "I hereby authorise Mr Mohamed Adil Rehman to make and take all decisions on my behalf in regards to the way this matter and any associated legal action is pursued." This is to enable the KW legal team to take steps in this matter without you having to give a seperate Affidavit authorising each step we take, this will be far simpler, cheaper and mean you will not have to come to court each time there is a hearing.
In order to add yourself before the next hearing we need to have a copy of your affidavit by end of business on Tuesday 26th August 2008.
Any questions about this affidavit should be sent to Abdurahman Jafar (email instructions enclosed) who is the brother acting as our legal counsel.
Wa salaam.
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