Four convicted of human trafficking


Salam Al Amir
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DUBAI // Three women and a man were sentenced to prison today for luring a female visitor, locking her up and forcing her into prostitution.

The Dubai Criminal Court of First Instance sentenced ZM, 44, a visitor, and ST, a 30-year-old nanny, both Pakistanis, to 10 years in prison followed by deportation for human trafficking.

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MF, the only male defendant, 28, also Pakistani, will spend six months in prison for deceiving the victim. He got her to come to Dubai after promising her a job at a beauty salon, but after she arrived, ZM and ST beat her, locked her up and forced her into the sex trade. He will be deported following his prison term.

SP, 26, from India, will spend six months in prison before being deported for her role in marketing the victim to customers and for working as a prostitute herself.

According to records, the 31-year-old victim was approached by a woman who knew ST, and was told that ST could find her a good job in Dubai.

When the victim, also Pakistani, arrived in Dubai on December 31, she was taken from Dubai International Airport to an apartment near the Marco Polo Hotel in Deira, her testimony shows.

She said two Pakistani women and a Russian woman worked as prostitutes there. She noted that she heard SP tell someone over the phone that she had a new girl for Dh100 per hour.

The victim said a man came and raped her, and then SP beat her because she refused to have sex with the man. She said she spent three days at the apartment and was raped by more than five men.

Then she was moved to another apartment in Al Baraha and forced to have sex with more men, records said.

On January 7, she was taken to a villa. She said that she started writing "help me" notes and throwing them out the window, and after a few days police raided the villa and arrested everyone, records show.

Records show that passers-by saw the notes and called police.

salamir@thenational.ae

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”