21 December 2009
A new accusation was yesterday added to the chargesheet in a case related to mortgage financier Tamweel at a hearing in the Dubai Criminal Court.
Five defendants are charged in the case in connection with the embezzlement of Dh46,641,754. All accused are out on bail and required to attend the court sessions.
The defendants are Tamweel's former CEO AS, 38, an Emirati; former head of the investment department at Tamweel, FK, 28, from Jordan; Tamweel's commercial manager, AH, 44, Emirati; former executive director and board member of Tamweel SA, 40, also Emirati; and Jordanian AA, 33, chairman of Bonyan's board.
Details of the new accusation were not immediately available. The lawyers of five defendants asked for time to look into the new charge and the court adjourned to January 10 in response to their request.
On that day the court will also hear the testimony of Fares Masoud, Financial Manager of Bonyan, with which Tamweel signed a contract related to deals that have witnessed the violations included in the case.
In a previous session, the court had heard the testimony of Yasser Abdullah Ameri, Director-General of the Financial Audit Department at the Dubai Ruler's Office. Ameri said he did not compile any accountancy report related to the case. His mission, as head of the department, is following up auditing at companies, in which the Dubai Government has a share of 25 per cent or more. He assigns accountants from the department to compile audit reports about these firms.
In the same session, the court also heard the testimony of Mohammed Hasan Al Marzouqi, an expert at the Financial Audit Department.
A new accusation was yesterday added to the chargesheet in a case related to mortgage financier Tamweel at a hearing in the Dubai Criminal Court.
Five defendants are charged in the case in connection with the embezzlement of Dh46,641,754. All accused are out on bail and required to attend the court sessions.
The defendants are Tamweel's former CEO AS, 38, an Emirati; former head of the investment department at Tamweel, FK, 28, from Jordan; Tamweel's commercial manager, AH, 44, Emirati; former executive director and board member of Tamweel SA, 40, also Emirati; and Jordanian AA, 33, chairman of Bonyan's board.
Details of the new accusation were not immediately available. The lawyers of five defendants asked for time to look into the new charge and the court adjourned to January 10 in response to their request.
On that day the court will also hear the testimony of Fares Masoud, Financial Manager of Bonyan, with which Tamweel signed a contract related to deals that have witnessed the violations included in the case.
In a previous session, the court had heard the testimony of Yasser Abdullah Ameri, Director-General of the Financial Audit Department at the Dubai Ruler's Office. Ameri said he did not compile any accountancy report related to the case. His mission, as head of the department, is following up auditing at companies, in which the Dubai Government has a share of 25 per cent or more. He assigns accountants from the department to compile audit reports about these firms.
In the same session, the court also heard the testimony of Mohammed Hasan Al Marzouqi, an expert at the Financial Audit Department.
By Mohammed Elsifady
© Emirates Business 24/7 2009
