DUBAI // A policeman has been cleared of threatening to harm the family of his 75-year-old business partner over a Dh4 million loan.
Prosecutors said that EA, an Emirati, and his wife and daughters paid MS, 53, from Yemen, Dh3,900,000 to invest in a shared business, but were repaid only Dh600,000.
They said that after this the Yemeni stopped contact with his Emirati partner, but when pursued threatened to harm the Emirati's daughters and wife.
The Yemeni policeman denied a charge of issuing threats and was cleared by the Criminal Court.
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
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