Arab Today, arab today al boom pleads innocent in dh900 million graft case
Last Updated : GMT 06:21:21
Arab Today, arab today
Arab Today, arab today

Al Boom pleads innocent in Dh900 million graft case

Arab Today, arab today

Arab Today, arab today Al Boom pleads innocent in Dh900 million graft case

Dubai - Arabstoday

Emirati business tycoon, Abid Al Boom, serving a 923-year imprisonment for defrauding 3,695 investors out of nearly Dh900 million, pleaded innocent when he appeared before the Dubai Appeal Court Monday. The Dubai Misdemeanors Court had jailed Al Boom for three months against each of the 3,695 counts of swindling and deception. His seven alleged associates, including his brother, K.B., another Emirati, A.S., an Egyptian, M.I., a Malawian, M.M. and three Somali women, were acquitted of aiding and abetting Al Boom for lack of evidence. Al Boom and his seven suspected associates Monday pleaded not guilty and denied their charges before Presiding Judge Adnan Al Farra. Prosecutors charged Al Boom with defrauding and swindling 3,706 investors out of more than Dh900 million. The Emirati businessman was acquitted against 11 counts of swindling. A special judicial committee was set up upon a Ruler\'s decree to liquidate Al Boom\'s assets and was tasked to list all of his properties and funds and determining his financial situation, rights and obligations. During yesterday\'s hearing, one of Al Boom\'s advocates Hassan Juma Al Raisi asked Presiding Judge Al Farra to know from the special judicial committee the number of victims who approached the committee claiming back their embezzled funds, and the total amount of money claimed. The court reconvenes on June 27 after it addresses the judicial committee regarding this. The judge rejected Al Raisi\'s request for bail to his client. Misdemeanor Court\'s Presiding Judge Al Saeed Mohammad Barghout said as per article 91 of the Federal Penal Law \"Al Boom will not spend more than ten years in jail\". Article 91 stipulates that a suspect who is convicted on several related crimes and is convicted by the Misdemeanor Court, then the suspect won\'t be jailed for more than a maximum of ten years. If the suspect was convicted by the Courts of Misdemeanors and First Instance, concurrently, then the accused does not spend more than 20 years in jail. Al Boom pleaded not guilty and denied the charge of running a bogus investment portfolio, breach of trust, defrauding and swindling 3,706 investors out of around Dh900 million. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today al boom pleads innocent in dh900 million graft case Arab Today, arab today al boom pleads innocent in dh900 million graft case

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today al boom pleads innocent in dh900 million graft case Arab Today, arab today al boom pleads innocent in dh900 million graft case

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday