The Dubai Appeals Court, which was supposed to award a verdict in Tamweel-Bonyan International corruption case, has decided to form a three-member committee headed by a financial auditor from Dubai Financial Control Department.
The committee shall have an expert in evaluating land prices from the Lands Department and a financial auditor from the experts registered with the court.
The Appeals Court has also ordered one of the defendants to pay Dh60,000 as the committee's fees.
The court which found that the case needs further study and a report is needed to enable a verdict has adjourned the case until November 24 should the defendant fail to pay the Dh60,000 and until December 22 for receiving the committee's report.
In the previous hearing, the defence lawyers submitted their final arguments.
Senior executives identified as Tamweel's ex-CEO, AA, 38; ex-commercial president, AA, 44; former executive director SM, 40, (all are Emiratis); former director of its investment department, FK, 28, and Bonyan's former board chairman, AS, 33, both Jordanian nationals, were accused of accepting bribes, breach of trust, and exploiting company's secrets to make personal benefits.
All of the accused have pleaded innocent and denied charges of abusing public office, wasting public funds, bribery and financial irregularities.
The court has granted bail to five men who were, in May 2009, awarded varying jail terms besides hefty fines in the Tamweel-Bonyan corruption case.
The Court of First Instance had, in May 2009, awarded them jail terms and ordered them to pay Dh35 million as fines and Dh10m to Tamweel.
The amount embezzled in the scam involving top executives of Tamweel and Bonyan adds up to Dh45m.
Eman Al Baik
© Emirates 24|7 2010
