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Dubai: An Emirati businessman is suing the Dubai Police and Departments of Economic Development and Financial Control for allegedly causing him a loss of Dh1.1 billion, his lawyer said.
Abed Al Boom, owner of Abed Al Boom Management and Development Properties, is currently being detained by authorities.
The Public Prosecution is investigating charges that Al Boom swindled more than 3,458 depositors of an estimated Dh847 million.
Al Boom's legal representatives, Salim Al Sha'ali and Co Advocates and Legal Consultants, claimed that the plaintiffs, which constituted a government-assigned committee to look into Al Boom's investment portfolio, breached his client's trust and illegally kept 14 property title deeds in its possession, apart from other documents.
"The plaintiffs caused our client financial and moral loss worth about Dh1.1 billion... he handed the committee the title deeds to verify their authenticity and return them... the committee issued its report, but refused to return the title deeds.
"It announced in newspapers that it will sell his properties and return the money to the depositors... Retaining his documents, including the title deeds and passport, are exclusive judicial procedures...," said Salim Al Sha'ali in a civil lawsuit lodged before the Dubai Civil Court, on Tuesday.
A hearing on the lawsuit will be held on October 9.
His lawyer requested the court to assign a committee of financial experts to assess the financial damages suffered by Al Boom.
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