Ex-Tamweel officials accused of making Dh44m in illegal land deals

Four senior executives of the country’s largest mortgage lender, Tamweel, appeared in court yesterday, charged with making an estimated Dh44 million (US$12m) in profits through illegal land deals involving company-owned properties.

The four, including Tamweel’s former chief executive officer, and a fifth man denied the charges.

The chief defendant in the case is a 38-year-old Emirati man identified as AA, who officials say was the chief executive at the time of the crime. His co-defendants are: Tamweel’s former chief investments officer, identified as FK, a 28-year-old Jordanian; the lender’s deputy chief executive, a 44-year-old Emirati identified as AH; and another Emirati, SA, 40, who was Tamweel’s executive manager and a member of the board.