The Liquidation Committee will refer him to the Public Prosecution if it discovers undisclosed funds

The album declares its property inside and outside the country

3695 charges brought by the Public Prosecution office.

Emirates today

The Vice-Chairman of the Judicial Committee for the Settlement of the Financial Status of the Debtor Abed Al-Boom, Judge Jamal Salem Al-Jabri, said that the debtor submitted a declaration of his property and real estate inside and outside the country.

Al Jabri added that the owl submitted a declaration after the committee addressed him to the necessity of depositing his money, in accordance with the decree issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as ruler of the Emirate of Dubai, adding that if any money was discovered, it was not disclose it, the committee will refer it to the Public Prosecution.

A creditor returns 32 thousand dirhams

A creditor returned to the committee for the liquidation of the financial position of the debtor, Abed Al-Boom, 32,000 dirhams, which he had received in excess of the value of the money he deposited, after he had consulted a legal authority, according to what was confirmed by the committee’s vice-chairman, Judge Jamal Salem Al-Jabri, who confirmed that the committee responded to the man that it was dealing With the case of Abed Al Boom, given that he did not invest the depositors’ money to give them profits, so the value of the sums obtained by the depositors is deducted from their capital.

He said that the committee informed the man that the increase he obtained belongs to him, the responsibility of depositing it with the committee, or keeping it, according to what his conscience sees, indicating that the man missed the committee and returned to it after a while, and deposited 32,000 dirhams, pointing out that he consulted a legitimate authority.

He pointed out that the committee is still working on collecting the value of the sums of money that depositors are entitled to in accordance with the decree, which instructed the committee to give the album a deadline to deposit all its money in its own account.

He said that the committee offered a plot of land owned by the owl for sale in a public auction, to get the best price, explaining that it relies in its work on the gradual sale of his property.

And she had earlier sold a private farm to him, for 15 million and 100 thousand dirhams in an auction.

Al-Jabri confirmed that "some of the depositors who registered their claim with the committee, before the end of last year, did not complete their papers, while the committee found that some of them got a large part of the money they deposited with the owls, and others took more than the value of their capital."

The details of the case date back to July 2008, when the Dubai Police arrested Abed Al Boom, after the complaints of depositors increased at that time, who submitted reports to the Al Muraqqabat Police Station against the “fake owl” wallet. Among them are “betrayal of trust,” “giving a check in bad faith,” “the embezzlement of cash” delivered to him to be used for the benefit of their owners, by investing them in real estate investment, and “giving 3,700 checks that are not matched in return for sufficient existing and withdrawable fulfillment, in bad faith.”

The Public Prosecution referred the accused to the Misdemeanor Court in Dubai, which in February 2011 sentenced him to 923 years in prison, at a rate of three months for each charge.

However, the Court of Appeal decided in November 2011 to stop the judicial procedures issued in the case, and referred it to the concerned parties for review by the Judicial Committee issued by Decree No. 24 of 2009.

In February of 2012, the Dubai Court of Cassation finally closed the curtain on the case of the owl wallet, and decided to uphold the decision of the Court of Appeal to abolish his imprisonment for a period of 923 years.

Decree No. 30 of 2013 issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as Ruler of the Emirate of Dubai, stipulates the amendment of some provisions of Decree No. 34 of 2009 to form a special judicial committee to liquidate the situation. The financial debtor Abed Al-Boom.

The decree stipulates in its fourth article that “creditors and depositors who submit their claims, requests and all of their documents to the committee after the date of December 31, 2013 shall not participate in the distribution of the debtor’s funds, without prejudice to their right to fulfill their rights from the debtor’s funds that appear after the liquidation of his funds.”

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