Suspect confessed just hours after the murder



ABU DHABI // The confessions given to police by the murder suspect Derrick Praileau were revealed at his first court appearance on October 21. They provide a harrowing account of the moments leading up to the brutal killing of Andree Bejjani in the New York hotel apartment where she lived. Praileau, 29, was arrested just hours after Ms Bejjani, who had lived and worked in Dubai before moving to New York in 2005, was stabbed to death.

He was the head of housekeeping at the exclusive hotel overlooking Central Park, and police believe he used his key card to let himself into the home of the 44-year-old Lebanese businesswoman, who had changed her first name to Sara. "Yes, I killed her," he told detectives in interviews shortly after the September 19 murder. "I went into the room and I strangled her. She got scared. I was on top of her telling her to chill. I made a mistake. I had seen her around. I put a pillow over her mouth. I don't know if I stabbed her. It's possible. I have to stop drinking because when I am drunk I want what I can't have and just take it," he said.

Despite the confession Praileau, who is married with two children, pleaded not guilty at a hearing in New York last week to first-degree murder and attempted rape. According to the statements released by police, when detectives arrived at Praileau's house that afternoon, he said: "I know why you're here. You're here about the girl, right?" He then pointed to the clothes and trainers he said he had worn that morning.

He claimed he had arrived at work at about 2.30 or 3am, despite the fact that his shift did not begin until 6am. He then said he went to eight rooms to make sure they were clean, before telling another housekeeping manager to tell his boss that he was sick and going home. He then claimed to have "accidentally" entered one hotel room on the ninth floor before letting himself into Ms Bejjani's room "by mistake" at about 8am.

In a separate, handwritten, signed confession, Praileau added that when he entered Ms Bejjani's flat she asked what he was doing there, and he apologised saying he had got the wrong room and left. "I came back and I lost it. I walked in, I choked her, I don't know why or how. I knew that she was dead," he said in the statement, adding that he then moved some linen into the hallway and "went to my office to finish my work".

"I don't know why I did this, I just panicked," he said. Praileau's defence lawyer, Richard Siracusa, was unable to be contacted for comment. @Email:lmorris@thenational.ae

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THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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.”

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Bridgerton season three - part one

Directors: Various

Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey

Rating: 3/5


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