Dubai: Dubai's highest court closed the curtains on one of the biggest fraud cases in the emirate's history and that involved Emirati business tycoon, Abid Al Boom, after suspending all legal action against him.
The Dubai Cassation Court's Presiding Judge Mohammad Nabil Riyadh on Monday upheld the appellate court decision against Al Boom to suspend all legal action and cancelled his 923-year imprisonment for defrauding nearly Dh900 million from 3,695 investors.
According to Monday's judgement, Presiding Judge Riyadh rejected Dubai prosecutors' appeal to overrule the appellate court's judgment and send back the case for a fresh trial.
However the Cassation Court confirmed the cancellation of Al Boom's conviction, suspended his punishment and halted all legal action against him.
Commenting over the irrevocable and final ruling, Al Boom's lawyer Hassan Juma Al Raisi told Gulf News: "Today justice has been served... following this verdict I can say that the committee appointed by the ruler is working very closely on calculating my client's assets and properties in order to settle the debts of all Al Boom's investors ."
The Misdemeanor Court had earlier sentenced Al Boom to three months in jail for each of the 3,695 counts of swindling and deception.
The Appeal Court later stopped all sort of legal action against Abid Al Boom and referred the case to be handled by the judicial committee that was appointed upon the Ruler's decree no 34 in 2009.
