Tamweel graft case hearing adjourned to October 5

DUBAI — A panel of the Court of Appeal on Tuesday adjourned hearing in one of the corruption cases involving former Tamweel executives to
October 5 as a member judge of the panel was absent.

By Mary Nammour

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Published: Wed 15 Sep 2010, 11:37 PM

Last updated: Mon 6 Apr 2015, 4:41 PM

In Tuesday’s short session, temporary Presiding Judge Ayssar Fouad deferred the hearing so that Judge Moustapha Shinawi, who has been presiding the panel during the hearing in the case all along, will be present.

The case involves two former high executives of Tamweel (Emiratis), who are accused of collecting bribes worth more than Dh41 million when purchasing plots in Sama Al Jaddaf project at their cost price and then reselling at higher prices.

It also involves an Emirati former member of the Tamweel board, a Jordanian former director of Investment Department in Tamweel and a Jordanian former chairman of a private real estate company.

On May 30, the Court of First Instance sentenced the former CEO of Tamweel and his deputy to three-year imprisonment each.

The court also fined them jointly Dh14.4 million and ordered them to return Dh4.3 million jointly. They are also accused of embezzling Dh13.8 million by purchasing and reselling other plots damaging Tamweel’s interests.

The former deputy CEO and the former member of the board (also former CEO of Dubai Islamic Bank) are accused of causing Tamweel losses to the tune of more than Dh3.6 million by purchasing a plot at less than the market value and resell it.

They were sentenced to pay jointly a fine of Dh3.6 million and to return the same amount jointly to Tamweel.

The court sentenced the former investment department director (Tamweel), the former chairman of the private company and the former member of the board to one year in prison each.

The former Tamweel CEO, his deputy and the private company chairman were also given a joint fine of Dh20.8 million.

The former Tamweel CEO, his deputy and the former director of investment department were also fined jointly Dh2.8 million. They are also to return jointly Dh1.8 million. The trio was acquitted of the charge of divulging confidential information.


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