Friday, Aug 20, 2010
Gulf News
Prosecutors move appeal court to get primary verdict overturned
Dubai Prosecutors are seeking to get the acquittal of the chairman and owner of Dynasty Zarouni in a case of swindling Dh25.6 million from 10 businessmen overturned. Proceedings in the case moved to the Dubai Appeal Court yesterday after the prosecutors appealed the primary verdict.
When Dynasty Zarouni’s chairman, K.M., an Indian national, and its Emirati owner, M.Z., appeared before the Appeal Court’s Presiding Judge Mustafa Al Shennawi yesterday, they pleaded not guilty and rejected the charges levelled against them.
In May, the Dubai Misdemeanours Court cleared K.M., 36, and M.Z., 37, of swindling Dh25.6 million from 10 businessmen [mostly Indian]. The prosecution had made out a case that the businessmen had been conned into investing in a bogus investment portfolio.
The misdemeanours court also dismissed the civil lawsuit lodged by the businessmen against K.M., M.Z., and a third British suspect, R.C. [who is at large], seeking compensation.
Defence lawyers Dr Habib Al Mulla, Ayman Merdas and Mohammad Al Zari asked Presiding Judge Al Shennawi to adjourn the case so as to allow them time to prepare their closing arguments.
The judge adjourned the case until September 23 so that R.C. can be notified legally to attend the hearing and for defence lawyers to present their cases.
Dr Al Mulla had earlier lodged a civil lawsuit against the 10 businessmen seeking compensation for the damages he said K.M. had incurred on account of the businessmen’s “malevolent” complaint.
In his defence, Dr Al Mulla contended: “The so-claimed ‘bogus investment portfolio’ is inexistent and it’s a programme to render services to investors in the real estate sector. The value of services rendered to the businessmen was more than what they paid [for]. The claimants and the defendants exchanged emails and letters which deny the existence of a bogus portfolio.”
swindling case
The claimants and the defendants exchanged emails and letters which deny the existence of a bogus portfolio.”
Dr Habib Al Mulla
Defence lawyer
By Bassam Zaza?Senior Reporter
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