DUBAI // Five executives appealing their convictions for bribery and embezzlement were granted bail yesterday at their first appeal hearing.
In May, a former chief executive of Tamweel, A S, 38, and his Tamweel deputy, A N, 44, were sentenced to three years in prison. Additionally, a former Tamweel executive manager, SA, 40, a former Tamweel chief investment officer, F A, 28, and the CEO of Bonyan Properties, AA, were sentenced to a year in jail after being convicted of bribery and embezzlement by the Dubai Criminal Court of First Instance.
All five were also ordered to pay Dh51.7 million in fines and repayments.
The executives were accused by public prosecutors in July of 2009 of making Dh44m in profits through illegal land deals involving company-owned properties.
The court will reconvene next month.
amustafa@thenational.ae
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.