The Dubai Land Department (DLD) has seized property, land and an Escrow account registered to Schon Properties, owners of Pakistan Super League cricket team the Multan Sultans, according to a report published in Arab News.
The government of Dubai said the DLD decided to act while Dubai Public Prosecution and Dubai Courts pursue legal action against the company.
Schon Properties bought the newly created Multan Sultans franchise with a winning bid of $41.6 million in 2017, paying $5.2 million a season for eight seasons. This made the team the most expensive of the six PSL franchises.
The Schon Group is reportedly on the National Accountability Bureau’s radar, after it was involved in a loan default and faced allegations of involvement in a financial scam worth Rs 1.245 billion.
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