DUBAI // A former Deyaar chief executive was charged this morning with misusing his powers and approving bids in return for Dh20 million in kickbacks, and three others faced separate related charges.
Prosecutors said that between 2004 and 2007, the American ZS, 45, who was responsible for managing bids for the company had deliberately approved high offers in return for a bribe, damaging Deyaar.
KM, 61, an Argentinian partner at another company, was accused of Dh10m in bribes as part of the scheme, along with FL, Canadian, and AS, British, who are at large. KM also faces a separate charge of forging bills and using them.
FL is a project manager at a third company, and AS is its director general; they also are charged with embezzling Dh500,000 each.
DK, a projects evaluation manager the third company, testified that the bid offers were prepared by AS and FL before being sent to ZS at Deyaar. He said AS issued a directive that all contact with Deyaar must go through him and FL.
He testified that the company won three contracts from Deyaar: the first in June 2005 for towers in Jumeirah Lakes worth Dh71.2m; the second in February 2006 for a tower in Business Bay worth Dh76.1m; and the last in December 2006 for the Metro Police Tower in Business Bay, worth Dh55.78m.
MM, an auditor who examined the records and bank accounts of the defendants, testified that he found violations, including about Dh30.5m transferred into their accounts.
He said he also found cheques issued to pay financial obligations for ZS, and money transfers outside the country.
The two men in court denied the charges this morning, and KM's defence lawyer requested bail. She said he had been in detention for two years and needs medical treatment.
The next hearing was scheduled for May 30.
salamir@thenational.ae
