Dh441m fraud accused out on Dh5m bail

Dubai Public Prosecution released on bail an Emirati lawyer who was in custody on charges of attempting to embezzle Dh441 million from former prime minister of Thailand, Thaksin Shinawatra, after he deposited Dh5million in cash, Arabic newspapers quoted judicial sources as saying.  

The 45-year-old lawyer also placed his passport as well as that of a gurantor's before he was granted bail.

He denied embezzling £60 million that the ex-prime minister had entrusted him to settle a £150-million deal to sell Manchester City Club. The deposit was made in the name of his office.

The accused also denied charges of embezzling €15m from the premier after convincing the latter to open a new bank account under his own name so as to avoid political complications as the ex-prime minister was already facing troubles in Thailand.

But he siphoned off the amount deposited in his account, say prosecution records. The lawyer is also charged with embezzling Dh39.5m from the £150m meant for the football club deal after Shinawatra asked him to buy a villa on his behalf. Records said he bought a villa worth Dh38m in Emirates Hills and registered it in his name after paying Dh380,000 in brokerage fees and Dh620,000 in registration fees. He also took Dh495,926 in fees for his own firm.

The lawyer also denied faking two formal documents to transfer the ownership of an airplane type Global XRS worth $48m to his name.
 

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