The focus on developing autonomous vehicles follows the UAE government’s mission to make the country a testing hub
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Four people have been acquitted after an investor accused them of stealing Dh200 million.
The complainant filed a report stating that his money had been seized by people of his nationality. According to his statement, he agreed to establish a company and construct a 5-star hotel in Dubai with one of the defendants, who is his friend. He said that this was since his friend has citizenship in a western country and can travel between countries faster. However, even after several years the agreement was not upheld.
The investor submitted documents proving that he is the owner of the company and hotel, as well as an account statement showing that he transferred money to the company, which was being run by his friend.
The friend's lawyer stated that his client did not receive money from the investor and that his client is the real owner of the company. He also said that the friend was kidnapped by the investor and forced to sign a waiver of the hotel and the company.
The lawyer called on the court to refer the investor’s complaint to an accounting expert to ensure the authenticity of the money transfers.
The court delegated a tripartite committee from the Department of Expertise and Dispute Settlement to examine the objections submitted by the parties. The committee submitted its report, in which it concluded that the memorandum of association and the commercial license of the company and the hotel to be built were owned by the defendant.
The Dubai Criminal Court acquitted the defendant and the other accused (one of whom is his wife) of the charge of seizing and wasting the investor's money.
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