UAE | Crime
Judicial section to auction 63 cars in Qablan case
Abu Dhabi Judicial Department (ADJD) will announce a public auction this month to sell 63 cars seized from the bogus investment portfolio case known as Qablan case.
- WAM
- Published: 00:02 October 13, 2008
Abu Dhabi: Abu Dhabi Judicial Department (ADJD) will announce a public auction this month to sell 63 cars seized from the bogus investment portfolio case known as Qablan case.
The auction will be held at Baniyas Club as per the directives of Lieutenant General Shaikh Saif Bin Zayed Al Nahyan, Minister of Interior and President of the club, following the department's request to the management of the club for hosting the auction.
ADJD has also revealed recent developments on the trial of Qablan. More than Dh95 million recovered in the case have been deposited in the account of the committees tasked with assessing damages caused to investors.
Other amounts in bank cheques have been recovered, while properties have been seized from the defendants in favour of the victims.
Abu Dhabi Police Criminal Investigation Department is working on checking declarations submitted by victims to approve the amount of compensation.
Police have tasked 12 officers to manage the declarations and send them to the court. ADJD has conducted a series of meetings with the officers to set up procedures for the declarations process.
Assessing
The primary committee, compromising members from the Central Bank, ADJD and Abu Dhabi Police, is identifying and assessing the assets of all co-defendants as well as the depositors' interest and the brokers' commissions to identify the exact amount of money swindled by Qablan and partners.
The court is still waiting for a report by the other sub-committee compromising public prosecution, an assessment expert and the Abu Dhabi Police.
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