UAE | Crime
Five executives deny financial irregularities in Lagoons graft case before Appeals Court
The Public Prosecution's representative asked the Appeals Court to confirm with the Financial Control Department (FCD) whether Sama Dubai and Lagoons are private or public companies.
- By Bassam Za'za' Senior Reporter
- Published: 00:00 November 4, 2009
Dubai: Four executives involved in the financial irregularities and bribery case of Lagoons, a Sama Dubai project, pleaded not guilty before the Dubai Appeals Court which extended their bail on Tuesday.
Presiding Judge Mustafa Al Shennawi extended the bail of the four executives, including three from Lagoons, two Emiratis and one who did not have personal documents, and a Syrian executive from Damac, who all refuted their different charges of bribery, abusing their duties as public servants and committing financial irregularities.
Meanwhile, Lagoons former chief executive officer, a 42-year-old Emirati, who was acquitted by the Court of First Instance, pleaded innocent and denied the charge of collecting Dh2.9 million in bribe.
The Public Prosecution's representative asked the Appeals Court to confirm with the Financial Control Department (FCD) whether Sama Dubai and Lagoons are private or public companies. The prosecutor also asked Presiding Judge Al Shennawi to summon FCD's financial expert, who prepared the case's financial report, to hear his statement.
Last July the Court of First Instance absolved the former CEO, A.M., of any wrongdoing including the charge of causing Dh137 million loss to Lagoons.
Damac's former property development director, 32-year-old Syrian, A.H., and former Lagoons executives, 41-year-old Emirati M.M., his 23-year-old compatriot N.Q. and 28-year-old M.S. (who doesn't carry documents), were sentenced to jail for some charges and acquitted of others.
M.M., N.Q. and M.S. were sentenced to one year in jail and a joint fine of Dh1.35 million.
They were convicted of taking Dh1.35 million in bribes for unlawfully selling and reselling land belonging to Sama Dubai.
M.M. and M.S. were jailed for another year for giving a Dh650,000 bribe to A.H. who also received one year in jail. They were jointly fined Dh650,000.
M.A., Lagoon's ex-sales manager, and N.Q., the ex-sales adviser, were acquitted of revealing the company's secrets by providing an investment house with details about their clients, as well as information and prices of properties owned by Sama Dubai.
M.M., N.Q and M.S were acquitted of taking three different bribes worth in Dh8.3 million in total.
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