Sulaiman Al Fahim: 'I'm a victim'

Sulaiman Al Fahim (JOSEPH J CAPELLAN)

Sulaiman Al Fahim - the high-profile former owner of English Premier League Club Portsmouth and host of the reality television show Hydra Executives - claims he is an innocent victim, following a Dubai Property Court decision to issue a warrant for his arrest over a Dh8 million debt.

The National reported this morning that the court issued the asrrest warrant for Al Fahim on Thursday after a ruling against him in January last year over a property dispute.

However, Al Fahim has since defended himself as "innocent", saying he looks forward to clearing his name.

"Look, I am the victim, I am innocent. I believe in the UAE judiciary system led by His Highness Sheikh Mohammed. I know that it is a fair system, one I have great faith in, and that I can clear my name, " he told Arabian Business.

The court ruling came about after an investor from Azerbaijan demanded to be repaid after a development by Al Fahim’s company, Al Buraq Development and Investment, failed to go ahead in Dubai.

It is understood that another arrest warrant has been issued against Saqr Abdullah Mohammed of Ghantoot Star General Trading, another Dubai company involved in the deal.

The court ordered Al Fahim, who is also the face of Abu Dhabi developer Hydra Properties, to repay the investor Dh8,634,836 ($2.3 million); the original Dh8m he invested plus court and legal fees.

Documents submitted to the court also alleged that Al Fahim had cleared his assets from the UAE, transferring local funds to undisclosed overseas locations. They revealed his only remaining assets in the country amounted to Dh3,000 in stocks.

Al Fahim later told Arabian Business that he had owned a tower but sold a plot of land to another party for Dh90 million - but that the cheque had bounced and that the buyer was now in jail. He also claimed the party had continued to sell a development using his name but he was not involved and had not received any monies from anyone involved in the project.

Al Fahim, who was reportedly in Moscow attending a chess function as part of a UAE delegation, denied he was running away from the debt.

"My lawyers are currently handling the matter and I am positive it will be resolved very soon."

 

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

 

Print Email