Report clears fraud charges

A report on transactions involving a former CEO and a businessmen, who are together accused of causing a real estate company to lose Dh22 million, found there was nothing wrong with their dealings, a court heard yesterday.

The report was prepared by Adel Sawan, an auditor appointed by the defence. It covered accounts related to the case as well as deals between the company, Mizin, and the businessman, JH, from Lebanon.

Sawan told Dubai Criminal Court that he had found no evidence of any violations. The co-accused is SH, Mizin's former CEO.