UAE | Crime
Court postpones Kabalan hearing
The Abu Dhabi Court of First Instance on Thursday postponed the case of the alleged Kabalan financial scam until October 15.
- WAM
- Published: 00:20 September 5, 2008
Abu Dhabi: The Abu Dhabi Court of First Instance on Thursday postponed the case of the alleged Kabalan financial scam until October 15.
This is in anticipation of the meeting of the main committee assigned to identify the defendant's properties, business accounts and bank accounts.
The committee will also calculate all amounts and interest payable to depositors and the amounts paid to the brokers that dealt with Kabalan.
The committee held a meeting on Thursday to determine the actual amount that the main suspect and his four mediators were paid, and prepare a list of their transferable assets including their cars, which are to be auctioned.
The number of victims of the alleged Kabalan scam has gone up to more than 8,000, after 27 new complaints were submitted last month. The total number of complaints reached 51, with an average of 200 victims per complaint.
The Abu Dhabi Court of First Instance will continue to look into the case after the number of suspects rose from 75 to 91. The number of complaints lodged in the case so far is 51, including 27 new ones.
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