DUBAI // For the first time since 2009 there will be no cloud hanging over Marcus and Julie Lee this new year.
Mr Lee, a former Nakheel executive, was accused of trying to pocket Dh44 million by fraudulently selling a piece of the collapsed Dubai Waterfront project.
After being under house arrest since 2009 he cleared his name this year.
The pinnacle moment of this year for his wife was standing in the courtroom in May as the judge in Dubai ruled Mr Lee was innocent, had committed no crime and profited in no way from the alleged property scam.
“It is a day we will never forget,” said Ms Lee who, like her husband, is an accountant from Sydney, Australia. “I heard the judge read out Marcus’s name, then the decision. I was then told ‘Marcus is innocent’.
“After all we had gone through, all the hardships, and then finally getting Marcus’ innocence confirmed, I was shaking, I couldn’t speak. It will be a day etched in our memories forever.”
A low, she said, was 14 days later after hearing an appeal had been lodged.
“We were then advised the appeal process could take another year,” Ms Lee said. “We didn’t know what to think or feel. It felt like we were again lost at sea.”
But in November the Court of Appeal upheld the decision. On December 15, Mr Lee had his passport returned.
Despite the year’s highs, the legal success brought with it some tough memories.
Mr Lee’s father, stepfather and grandmother all died before his name was cleared.
But the couple said they are slowly starting to enjoy life again.
“We are trying to just do simple things such as trying to be a little happier, enjoying the small things a little more,” Ms Lee said.
“We are also starting to try to plan for the future again, something we have been unable to do or even think about for years.
“We have worked out it’s going to take some time to readjust to a normal life, but it is there in front of us now and we are slowly starting to see it again.”
Christmas was markedly different to the previous four years, said Ms Lee, who had to surrender her passport to secure her husband’s bail.
“We haven’t been with our families for more than five years for Christmas,” she said. “Both of our mothers are now widowed and alone in Australia.
“Also, for the last four years we have had this case as a ‘black cloud’ hanging over our heads that we were never really able to ignore. The case has just dominated every thought, everything in our lives.”
Next year, she said, would be a process of putting the past five years behind them.
“It won’t be easy but we have to,” said Ms Lee. “We want to try to reconnect with our families and friends again. Remember how to laugh and be happy, and to be able to plan for our future again.
“We have proven we are strong, we can withstand the most trying situations that would test the best of relationships, and we are survivors.”
Mr Lee was one of two former Nakheel employees who were arrested in Dubai in January 2009 and charged with abuse of public funds, fraud, breach of trust and acquiring illegal profits and commissions.
It concerned the rights to develop the plot of land, called D17.
Mr Lee spent nine months in three prisons before being placed under house arrest in October of that year.
But after more than 50 hearings before Dubai Criminal Court and evidence from more than a dozen witnesses from Australia and Dubai, and the intervention of the former Australian prime minister, Julia Gillard, he was eventually cleared of all charges.
The other Nakheel employee and Mr Lee’s compatriot, Matthew Joyce, was sentenced to 10 years in prison but was acquitted of all charges last month.
jbell@thenational.ae
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
The years Ramadan fell in May
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
