Witnesses testify in Tamweel 2 trial

Witnesses testify in Tamweel 2 trial. (EB FILE)

The court hearing the Tamweel 2 trial yesterday considered the evidence of the financial manager of two private firms owned by one of the accused, UAE national AS, the mortgage lender's former CEO.

AS is one of five people charged with embezzlement and participating in a crime. The others are Emirati AN, Tamweel's former commercial manager, Pakistanis WA and MY and Ukrainian RR.

The witness, Mohamed Noman Iftikhar, denied that AN was a partner in the two private companies. He said AS owned 99 per cent of the companies and the remaining one per cent was owned by his wife.

But he revealed that AN and AS had joint investments and said AN was asked to re-invest the proceeds through one of the private companies. The witness also testified that AN did not sign cheques in his own name but instead used his brother's name.

He said AS and AN had shared equally the commission on the sale of two plots of land – one at Emirates Lake Towers and the second at Dubai Marina.

The case was adjourned until April 6. Dubai Criminal Court told the public prosecution to ask witness Abdullatif Al Banna to attend.

 

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