Dubai: The Dubai Misdemeanors Court on Monday sentenced renowned Emirati businessman Abid Al Boom to three years in jail for issuing two bounced cheques worth Dh5.2 million for trading purposes.
The court also ordered Al Boom, owner of Abid Al Boom Management and Development Properties, to pay Dh21,000 in temporary compensation to the businessman to whom he issued the cheques.
The court also referred the claimant's civil lawsuit to the Dubai Civil Court.
However, Monday's judgment is subject to appeal within 15 days. Al Boom's lawyers Ali Al Falasi and Hassan Juma Al Raisi were expected to appeal the court's decision, which if successful, will see him released on bail.
However until Monday's judgment, Al Boom was already on bail for a separate matter.
In March, Al Boom was sentenced to a year in jail after he was incriminated of signing a bad cheque worth Dh1.13 million for rent purposes.
Al Boom is also facing a third case of involvement in an alleged bogus investment portfolio.
Al Boom has been charged with running a bogus investment portfolio, breach of trust, defrauding and swindling more than 3,850 investors out of more than Dh900 million.
Seven of his associates, including his brother, are facing aiding and abetting charges.
Chief Judge Al Saeed Mohammad Barghout will chair a special tribunal in the Misdemeanors Court, which was formed to handle the major case.
