DUBAI // Adel Shirawi, the former chief executive of the developer Tamweel, faced fresh charges yesterday of fraud involving Dh42 million (US$11.4m) in illegal land deals. Mr Shirawi, 38, who was also deputy chief of Istithmar World, was charged this year with making an estimated Dh44m in such deals. The new allegations, made in the Dubai Criminal Court of First Instance, related to commission on the sale of land at Jumeirah Lakes Towers and Dubai Maritime City.
Mr Shirawi, who was named a Young Global Leader for 2007 by the World Economic Forum, was accompanied in court by his former deputy at Tamweel, Abdullah Nasser, 44, who also faces charges in the earlier case. In this case, Mr Shirawi and Mr Nasser stand accused along with Wakil Ghulam, 57, managing director of Vakson Freehold Properties, Roman Ruvinski, 54, a Ukrainian manager, and Mohammed Yasin, 40, a Pakistani trader, of defrauding the Dubai Commodities Centre and Dubai Maritime City of more than Dh42m through illegal commissions and fraudulent transactions.
The presiding judge, Hamad Abdel Latif, revoked Mr Shirawi's bail and sent him back to police custody yesterday. He had been released during his first trial. Prosecutors say Mr Shirawi and Mr Nasser abused their positions as public officials and embezzled Dh24m from one land deal at Jumeirah Lakes Towers - involving property owned by the Dubai Commodities Centre - and Dh18m in another land deal at Dubai Maritime City.
Mr Ghulam, Mr Ruvinski and Mr Yasin were charged with facilitating and abetting the crime, and receiving kickbacks from the Jumeirah Lakes Towers sale, while Mr Ghulam faced the same charges in the Dubai Maritime City deal. The prosecution case file includes the Dubai Financial Department's investigation findings, which indicate Mr Shirawi and Mr Nasser may have received up to Dh30m in illegal commission from various land sales while they were at Tamweel.
Tamweel was the official lender for the two projects and only made a one per cent commission on the sales as per the law. All five denied the accusations. The judge adjourned the hearing to October 5 for the defence team to review the case files and present its defence. newsdesk@thenational.ae