Absolutely there were, pilots et al.
While some were both greedy and naive in equal measure, buying multiple properties with cheques their accounts couldn't cash, there were a few who invested in projects cancelled or delayed. Nakheel's Palm Jebel Ali development is a case in point. Lured by the promise of government backing and financial support, the corrupt and heavily mismanaged Company turned it's back on those who'd invested in it's master project. Without cancellations and with the project still in 'discussion', the developer can delay indefinitely further work despite taking 30-50% from those already invested in that project. They pocket that money as well as write off debt from contractors and sub contractors. Then, after restructuring and re financing, Nakheel can announce record profits and continue to take further monies from investors in other projects. Finished properties are built to the lowest of standards with sub standard fittings and finishing. Their service fees are a joke, as are the services they provide for such inflated charges. They often promise greenery and landscaping and either fail to complete as per the glossy brochure or build some other monstrosity to block a premium view. The Palm Jumeriah apartments?
Sadly, there has been little to no success in the recovery of these deposits or from any legal action against Nakheel from the UAE courts.
So yes, I'm fully aware of the lack of integrity and honesty as well as the irresponsible behaviour demonstrated by the shallow and untrustworthy individuals that run these Companies. Caveat Emptor!
Harry