DUBAI // The trial of Abed al Boom, the developer accused of defrauding investors of almost Dh1 billion, was adjourned yesterday until the liquidation of his assets is complete and it is known how much money it raised.
Mr al Boom, 41, and seven other suspects were arrested last year for allegedly defrauding up to 3,700 depositors of Dh960 million (US$261m). They are charged with issuing fraudulent cheques, swindling and breach of trust.
Last month, the Dubai Misdemeanour Court of First Instance ordered the Public Prosecutor's office to report on the progress of the liquidation.
A Public Prosecution official close to the investigation told The National that determining the results of the liquidation was expected to take a long time but would not be more specific.
Mr al Boom and his associates - his brother KB, and a fellow Emirati, ARB, 49, along with Malawian MM, 55, Somali administrators ZH, 40, AH and ZY, both 36, and Egyptian accountant ME, 27 - were granted bail last month after their lawyers argued that there was no legal reason for them to remain in custody.
The court granted bail on condition that Mr al Boom turn over his passport and, as an additional guarantee, the passports of his wife and his adult children, along with the passports of five other unidentified Emiratis. He was also told that he would be fined Dh500,000 each time he failed to appear in court without a valid reason.
All of Mr al Boom's fellow defendants were ordered to surrender their passports. Each faces a fine of Dh100,000 if they fail to appear in court.
Mr al Boom's charge sheet alone runs to approximately 1,500 pages. The prosecution case file contains more than 32,500 pages of depositions and other evidence.
Presiding Judge El Saeed Bargouth adjourned the case until October 6.
newsdesk@thenational.ae
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Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
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Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
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What are the regulations?
- Fly it within visual line of sight
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- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Tips for used car buyers
- Choose cars with GCC specifications
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- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
UAE currency: the story behind the money in your pockets
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
Results
6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m; Winner: Rasi, Harry Bentley (jockey), Sulaiman Al Ghunaimi (trainer).
7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m; Winner: Ya Hayati, William Buick, Charlie Appleby.
7.40pm: Handicap (TB) $135,000 (D) 1,200m; Winner: Bochart, Richard Mullen, Satish Seemar.
8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m; Winner: Magic Lily, William Buick, Charlie Appleby.
8.50pm: Handicap (TB) $135,000 (T) 1,000m; Winner: Waady, Jim Crowley, Doug Watson.
9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m; Winner: Capezzano, Mickael Barzalona, Salem bin Ghadayer.
10pm: Handicap (TB) $175,000 (T) 2,410m; Winner: Eynhallow, Mickael Barzalona, Charlie Appleby.
'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Brief scores:
Huesca 0
Real Madrid 1
Bale 8'
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
