(Sukuk.net - Khaleej Times) Former CEO of real estate developer Deyaar and US citizen Zack Shaheen is still in Al Aweer Central Jail despite being granted bail by the two judges presiding over the cases he has been standing on trial.

"Even though he was granted bail on depositing Dh2 million in each case, it will take some time before he could walk out of the jail. It is not just a matter of money," said Ali Al Shamsy, Shaheen's Emirati counsel.

According to Al Shamsy, apart from the Dh4 million, Shaheen has to secure two Emirati sponsors who are willing to deposit their passports as a guarantee for his commitment (Shaheen's) to attend all hearings until both trials
are over.

"He has to deposit his personal passport and two Emirati sponsors' passports (for both cases) and sign a (letter of) commitment to attend every single hearing or pay Dh100,000,"
Al Shamsy said.

Presiding Judge of the Court of Misdemeanours Rifaat Mahmoud Tulba on Tuesday granted the 43-year-old defendant of Lebanese origin bail in the case in which he is facing charges of breach of trust, fraud, forgery and divulging of secrets along with the other accused, including a Lebanese, four Indians, an Argentinian, a Palestinian and a Pakistani.

"The bail was conditioned by payment of Dh2 million, depositing of his own passport and that of any Emirati sponsor in addition to commitment to show up at all trial hearings," the defence counsel said.

Early this week, Presiding Judge of the Criminal Court of First Instance Al Saeed Mohammad Bargouth also set the same conditions for his bail.

In that case, Shaheen is accused of criminal complicity in embezzlement of public funds and harming government interest along with Mohammed Khalfan Kharbash Abdullah, who was a former Minister of Finance and Industry, chairman of Deyaar and chairman of Dubai Islamic Bank (DIB), and an Indian absconding ex-director of operations in Deyaar. Shaheen is also accused of collecting bribes worth tens of millions of dirhams.

All along, Al Shamsy has been pleading for Shaheen's release from jail where his heath condition was reported as 'constantly deteriorating'.

"He is sick with many health problems. I request the court to implement Article 197 of the Criminal Procedure Code regarding the temporary detention of suspects pending trial.

"The original reason of detention, which is gathering the reports and financial documents, does no longer exist (completion of investigation by Public Prosecution), so there is no reason for my client to stay in custody," Al Shamsy had argued in the court.

"My client needs to be able to attend the hearings in a healthy and medically fit condition. Being in jail will not help him recover."

Besides Al Shamsy, a team comprising US, british and French lawyers is handling the procedures of the release of Shaheen.


By Mary Nammour
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