Duo accused of defrauding Al Boom of Dh1 million

DUBAI — Two men, a Lebanese and an Egyptian, were on trial on Thursday in the Court of First Instance for fraud and forgery charges.

By Marie Nammour

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Published: Fri 23 Sep 2011, 11:19 PM

Last updated: Tue 7 Apr 2015, 10:56 AM

According to prosecution records, the Lebanese, a 40-year-old jobless identified as RM (jailed at the Central Prison) and the Egyptian administrative supervisor, 47, identified as JS, defrauded Emirati businessman Abed Al Boom and his lawyer of Dh1 million.

The case has been heard by the Court of Misdemeanours and was recently referred to the Court of First Instance.

The duo allegedly fooled Al Boom into believing they could provide him with money liquidity of Dh1 billion to help him settle his financial problems for which he has been jailed and embroiled in the courts. To prove their accusations, the Lebanese defendant presented Al Boom with bank documents, which later turned out to be false and forged.

They managed to make the lawyer pay them Dh850,000 in cash and a cheque worth Dh150,000.

However, once they collected the money, they evaded Al Boom’s lawyer and did not obey their part of the agreement.

The 47-year-old Emirati lawyer, who filed the complaint, told the prosecutor that Al Boom met RM when he was at Al Muraqqabat detention centre in 2009. The latter claimed that he knew someone very wealthy who could provide any cash liquidity. He showed him some bank documents including a proxy given to him by the ‘wealthy friend’ for disposing off a big sum deposited at the Central Bank.

Later, Al Boom’s lawyer met with JS and handed him in the Dh 1 million as agreed upon. When the duo did not respect their agreement with Al Boom, the lawyer filed a complaint.

Al Boom, owner of Al Boom Holding, 43, was recently released on bail by the Court of Appeal.

He had been sentenced to 923 years in jail by the Court of Misdemeanours in February for 3,695 counts of breach of trust and dud cheques.

He had been given a three-month imprisonment for every count and was cleared of 11 counts.

In the case known as ‘Al Boom bogus portfolio’, the Emirati businessman is accused of embezzling more than Dh900 million collected from more than 3,700 depositors for investment in real estate. He is also believed to have given more than 3,700 cheques while there was no sufficient balance in his account.

mary@khaleejtimes.com



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