Ex-CEO of Deyaar cleared in graft case

Acquittal in case of misappropriating Dh30m comes after six-year legal battle

Deyaar’s ex-chief executive officer has once again proven his innocence following more than six years in court as yesterday he was cleared of abusing his office and misappropriating Dh30 million through an illegal tender.

The Dubai Appeal Court acquitted American-Lebanese Z.S. of abusing his former job as Deyaar’s CEO and committing financial irregularities by pushing through the illegal tender with Thermo, a construction services company.

Presiding judge Aysar Fouad acquitted Z.S. after overturning the previous ruling, according to which the former CEO was ordered to spend 10 years in jail and jointly pay a fine of Dh30 million with three other convicts.

In 2013, the Dubai Court of First Instance had sentenced in absentia a 61-year-old Argentinian, K.M, a partner in an information technology company, Thermo’s Canadian ex-project manager, F.L., and Thermo’s British ex-general manager, A.S., to 10 years in jail each for making illegal gains to the tune of Dh10 million from the tender.

Z.S. was sentenced to 15 years in jail, a ruling that was later reduced to ten years in jail.

The crime happened before 2009. The case [known as the Thermo graft case] first surfaced before the Dubai Court of First Instance in December 2009.

Lack of evidence cited

Citing lack of corroborated evidence, presiding judge Fouad dismissed prosecutors’ appeal to uphold the primary ruling against Z.S. and cleared the latter of any wrongdoing.

Z.S. is the only convict who remains in Dubai Central Jail pending other trials in another graft case, while K.M., F.L. and A.S. remain at large.

In March 2014, the Dubai Cassation Court overturned the acquittal of Deyaar’s exCEO and referred the case back to the appellate court for a fresh trial [that issued the recent acquittal].

Meanwhile, in November 2013, the Appeal Court had scrapped a 15-year jail term and a Dh30 million fine against Z.S. and acquitted him of abusing his position and helping Thermo win a tender illegally.

The appellate ruling remains subject to appeal before the Cassation Court within 28 days.