DUBAI // Three men lured a widow from India with the promise of a maid's job, but forced her into prostitution instead, a court heard today.
The Dubai Criminal Court of First Instance has charged A Sh, 20, of India - along with the two other suspects who remain at large - with human trafficking, holding the woman hostage, and running a brothel.
A Sh denied the charges in court today.
The victim, identified as MF, 31, was forced to have sex for money with three to seven men daily, prosecutors said.
She had initially come to Dubai in August of last year to search for a job to support her two sons.
"I was leaving my Indian mobile number for people whom I asked for a job," she told prosecutors.
However, when she was unable to find a job after a month, she returned to India.
At the end of February of this year, however, she received a call from someone who offered her a job as a maid in Dubai, for Dh800 a month.
She arrived in Dubai on March 5, and was met by A Sh as well as one of the other suspects, according to court records. The men allegedly took her into a room in Naif that was divided into small areas, with wooden partitions and a bathroom annexed to it.
The next day, they allegedly took her passport and locked her inside the room. They left her with her mobile phone so she could call her sons.
Some time later, A Sh allegedly raped MF and told her she had to work as a prostitute. When she refused, he said she had to pay the men back 20,000 Indian rupees (Dh1,311) for her travel cost, and that she needed to work as a prostitute for three months.
A Sh reportedly received Dh50 to Dh100 from clients, according to public prosecution records.
"They used to shout at me if I was not nice to the customers, and threatened to sell me off to some other people who exploit me more and would not let me go for at least five years," she said.
MF eventually told her family in India what had happened. They encouraged her to report it to police. On March 23, after taking the 999 number from one of her clients, she called police.
After verifying the information from MF, police raided the room on March 26.
"We agreed that she would call me when the suspects would be in the house so we could raid the house," S A, a CID officer, testified.
A Sh tried to escape from a window to the roof of the building, but police arrested him. He later told police that he was recruited by one of the other suspects to work as a servant for a family in Al Ain, but was allowed to work in the brothel after he failed to pass the health check.
The next hearing is scheduled for June 10.
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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.”
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2020 Oscars winners: in numbers
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