Al Boom seeks bail after chief prosecutor orders his detention

Dubai: Emirati businessman Abid Al Boom, owner of Abid Al Boom Management and Development Properties, who was arrested after a chief public prosecutor questioned him on Monday , is seeking bail.

A few days ago the Dubai Public Prosecution issued an arrest warrant against Al Boom and seven of his alleged associates and seized their properties and funds. They have been charged with allegedly swindling and conning dozens of victims by running a bogus investment portfolio.

Al Boom's lawyer Salim Al Sha'ali, of Salim Al Sha'ali and Co Advocates and Legal Consultants told Gulf News: "The chief prosecutor who questioned my client at Al Muraqqabat Police Station yesterday ordered his detention ... we instantly applied for bail. The Prosecution is still looking into the bail request."

Chief Prosecutor Khalifa Bin Deemas, head of the Attorney General's technical office in Dubai, confirmed Al Boom's arrest to Gulf News.

Seven others, including Asians and Africans, were arrested. Gulf News learnt that the chief prosecutor refused bail to them.

Essam Eisa Al Humaidan, Dubai Attorney General, earlier said: "We issued an arrest warrant against Al Boom and seven of his alleged associates ... we also ordered the freezing of share transactions owned by them and the halting of all business transactions concerning their property, assets and bonds to preserve and ensure the rights of depositors.

Al Sha'ali had said earlier: "My client didn't have any intention of swindling any of the depositors nor conning them out of their money ... he has been trying to return the depositors' money by selling his projects."