The Dubai Court of Misdemeanour yesterday postponed to November 23 hearing in a trial involving nine accused of embezzlement at real estate company Deyaar.
The court heard the testimony of Mohammed Mustafa Hussein, expert at the Financial Audit Department of Dubai Ruler's Court, and who compiled a report on the case. Hussein said the first defendant, ZS (American) had embezzled $6 million (Dh22m) from Deyaar.
The expert said the request by Deyaar to buy, via one of its affiliated companies, a villa project in Turkey was signed and approved by the board chairman rather than the rest of the members. Neither was the project presented to the board, he said.
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