Five former executives were handed different jail terms and ordered to pay nearly Dh45 million which they appropriated from Tamweel in one of the longest-standing trials of graft cases since 2008.
Following nearly three years of deliberations before the Dubai Appeal Court, Presiding Judge Mustafa Al Shennawi yesterday convicted Tamweel’s ex-CEO, Emirati A.A., and his two countrymen, A.N. [the ex-commercial president] and S.M. [former executive director], along with two Jordanians, F.K. [investment department’s ex-director of Tamweel] and Bonyan Holding’s ex-board chairman A.S. of abuse of office and committing financial irregularities.
The case was also handled by the Dubai Court of First Instance between 2008 and 2010.
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