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Wed 15 Aug 2012 02:06 PM

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Dubai's Al Boom gets six months in jail in new charge

Emirati businessman was previously sentenced to 900 years for embezzling US$261.4m

Dubai's Al Boom gets six months in jail in new charge
Property magnate Abed Al Boom was sentenced to more than 900 years in jail last year after a special tribunal in Dubai convicted him of 3,689 counts of fraud.

An Emirati businessman,
convicted of embezzling AED960m (US$261.4m) from nearly 4,000 investors, has been sentenced
to six months in jail for obstructing a legal receiver from auditing his
assets.

Property magnate Abed Al
Boom was sentenced to more than 900 years in jail last year after a special
tribunal in Dubai convicted him of 3,689 counts of fraud. His jail term was
suspended by the Court of Appeal after an ordered was issued to calculate the
value of his assets. 

Several members of staff at
Al Boom’s farm in the Margham area of Dubai tried to prevent three
court-appointed auditors, charged with assessing his assets and properties to
settle the debts of more than 3,000 individuals, from entering the property in
December last year, local media reported.

“They only allowed us in
after I warned them that I would call the police,” one of the officers
testified at Dubai Misdemeanours Court on Tuesday.

“We carried out our task but
a few rooms were locked. I phoned up one of the judges, who granted me verbal
permission to break down the door and carry out the law enforcement procedures.
We broke down one door only and left after we finished our job.

“On our way out, Al Boom
came in. He yelled at us and said we did not have the right to audit that farm
because it was secluded from the court order to seize his properties,” he
added.

When the officer asked the
defendant to open one of the closed doors, Al Boom refused. The officer called
the judge who granted him permission to break the door down for a second time.

“I didn’t do so because I
assumed that Al Boom would do something more than just yelling and throwing us
out of his farm. We left immediately and I went and lodged a complaint against
Al Boom for preventing us from executing the court orders,” said the officer.

Al Boom has 15 days to
appeal his sentence.

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