Princess sued over £14m property fraud

A woman claiming to be a Saudi princess has appeared in court after being accused of swindling £14 million worth of prime London property from investors and substantial loans from High Street banks.

The woman, claiming to be Princess Sara Al Amouldi, has appeared in the High Court accused of pulling off a multi-million pound property scam, after two property investors transferred six luxury London flats into her name.

The ‘Princess’ also managed to acquire substantial loans from a number of High Street banks, including HSBC, after claiming to be the daughter of billionaire sheikh Mohammed Hussein Al Amoudi.

'Al Amoudi' then used the loans to create the impression of huge wealth, in order to impress the two investors into subsidising the scam.

Property tycoons, Amanda Clutterbuck and Ian Paton, filed the law suit against the ‘Princess’, after the promised deal fail to materialise.

'Al Amouldi' had told the Mrs Clutterbuck and Mr Paton that she had vast amounts of money held up in Dubai bank accounts that were poised to be spent on UK property investments.

Subsequently, the investors transferred the six properties into the name of the accused, including flats in Knightsbridge and Belgravia, as security for a deal they believed would be funded by Al Amoudi.

Miss Clutterbuck and Mr Paton are demanding she pay them £14million for the flats, however the entire case hinges on whether evidence can be provided to establish just who exactly she is.

The court case continues.