Court suspends all legal action against Al Boom

Dubai: A court on Monday suspended all legal action against Emirati business tycoon, Abid Al Boom, and cancelled his 923-year imprisonment for defrauding nearly Dh900 million from 3,695 investors.

The Dubai Appeal Court cancelled Al Boom's conviction, suspended his punishment and halted all legal action against him.

"The court has cancelled the primary judgment [three months in jail for each of the 3,695 counts of swindling and deception] and stopped all sort of legal action against Abid Al Boom. The case now will be referred and handled by the judicial committee that was appointed upon the Ruler's decree no 34 in 2009," said Presiding Judge Adnan Al Farra as he pronounced yesterday's judgment in courtroom 20.

It will only be known whether prosecutors will appeal the judgment or not, based on the reasoning of the appellate judgment.

Al Boom's advocates Hassan Juma Al Raisi and Dr Ali Al Falasi pleaded the appellate court to dismiss the case against their client citing ‘jurisdictional purposes'.

Jurisdiction

Al Raisi and Dr Al Falasi asked the appellate court to refer the case to the special judicial committee contending that their client's acquittal or conviction does not affect the process of paying back the claimants' money.

"The investors' moneys are protected and preserved as they are seized by the judicial committee that was appointed upon a decree issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in 2009. The committee was formed to liquidate Al Boom's assets and properties. My client's seized assets and properties are enough to cover the value the claimants' money," defended Al Raisi.

In February, a special tribunal at the Dubai Misdemeanours Court jailed Al Boom for three months against each of the 3,695 counts of swindling and deception and acquitted him against 11 counts of swindling.

Defending his client before the appellate court, Al Raisi argued that his client's could not do anything since his bank accounts, assets, properties and title deeds were seized by the committee. The advocate deliberated before Presiding Judge Al Farra that Al Boom could have continued paying back the investors' money "had his assets and accounts not been frozen".

No criminal intent

Meanwhile, Dr Al Falasi said his client did not have any criminal intention to swindle or defraud the investors.

According to yesterday's judgment, the acquittal of Al Boom's seven alleged associates, including his brother, K.B., another Emirati, A.S., an Egyptian, M.I., a Malawian, M.M. and three Somali women were also upheld. They were cleared of aiding and abetting the business tycoon for lack of evidence.

After the verdict was made public in courtroom 20, all the suspects were spotted cheering and greeting each other in the court hall.

Al Boom and his alleged associates pleaded not guilty to the charges.