Court gives auditor full powers for probe

DUBAI — The Court of First Instance assigned on Sunday the director of 
the Financial Audit Department of the Ruler’s Court, Mohammed Moustafa 
or his assistant to examine papers in 
the Mizin case, which is part of the Tatweer Group.

By Mary Nammour

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Published: Tue 13 Apr 2010, 12:01 AM

Last updated: Thu 2 Apr 2015, 10:48 AM

The case involves a former Emirati CEO of the real estate developer and a Lebanese engineer.

The court presided by judge Al Saeed Bargouth gave the auditors the right to visit any governmental or non-governmental entity to examine relevant documents.

They may also have the right to ask for the testimony of necessary witnesses without oath. They can also visit some companies that might have relevant registers and documents.

The auditor’s mission is to confirm whether the Emirati defendant had indeed played a part in causing damage to Mizin due to the facilities and privileges he allegedly gave to the Lebanese defendant as well to assess the gain the second defendant allegedly availed of as a result.

The court also requested on Sunday that the auditor check who owns the entity of Mizin, Tatweer, and Dubai Holding and do a report to which he should enclose the internal regulation of each company.

The hearing was adjourned to May 11. The two defence lawyers Samir Jaafar and Ali Al Shamsy raised objection to the assignment by the court of the auditor. The court reassured them that they would have the right to object to the report once it is ready.

The 50-year-old former top brass of Mizin had earlier pleaded not guilty to taking about Dh2 million in bribes from a Lebanese engineer who in turn is said to have received purchase discounts adding up to Dh49 million.

The ex-CEO allegedly breached the company policy and abused his powers during his tenure in 2006-2007 when he granted the Lebanese some facilities and privileges, including staggered payment of installment and less down payment, without overcharge, in return for bribes. The 53-year-old Lebanese is accused of bribing the CEO to avail of discounts and facilities while purchasing land and built-up units.

He had earlier denied conspiring with the ex-CEO to serve their mutual interests while damaging the company’s standing. —

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