Trio who murdered man ask for early release after serving 15 years



DUBAI // Three Indians who were sentenced to life in jail 15 years ago for the premeditated murder of their compatriot have appealed for an early release for good conduct.

The trio, aged 50, 42 and 38, were convicted of murdering the man, whose age was not given, at dawn on December 27, 2001 after the victim threatened to report them to police for bootlegging and demanded they pay him money to keep him quite. They were also convicted of hiding the man’s body then dumping it and with consuming and possessing alcohol as well as overstaying their visas.

On the night of the murder, the three men were intoxicated when they sneaked into the victim’s room in Naif and dragged him from bed as he slept. One of them tied up his legs while the other two hit him on the head with solid objects then the third joined them by wrapping a plastic rope around the man’s neck and strangled him to death.

The body was wrapped in plastic then placed in a cardboard television box before being dumped in a car park in Al Hamriya.

Police were notified about the dead body and investigations revealed that one of trio was the victim’s friend. Upon visiting his flat, which he shared with the two others, police noticed that their TV was the same brand as the one on the box in which the dead body was found. Two of them implicated the third man, who was later arrested in Ajman.

During investigations, the three men individually admitted that they planned the murder after they were fed up with the victim’s demands to pay him money, buy his phone credit and meals, or else he would report them to police.

Prosecutors said that the trio planned the murder two days before it happened.

At Dubai Criminal Court in November 2002, they were sentenced to life in jail, a sentence upheld by appeals and cessation courts.

On Thursday morning the three convicts applied at Dubai Criminal Court for an early release after obtaining good conduct certificates from the corrective and punitive establishments in Dubai. They have already served 15 years and four months of their sentence.

The court will give its verdict on May 8.

salamir@thenational.ae

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THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

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UAE currency: the story behind the money in your pockets
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Number of Chinese tourists coming to UAE in 2017 was... 1.3m

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Boost to the UAE economy of 5G connectivity will be... $269bn 

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Cast: Sushant Singh Rajput, Manoj Bajpayee, Ashutosh Rana, Bhumi Pednekar, Ranvir Shorey

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1 India 71 per cent

2 New Zealand 70 per cent

3 Australia 69.2 per cent

4 England 64.1 per cent

5 Pakistan 43.3 per cent

6 West Indies 33.3 per cent

7 South Africa 30 per cent

8 Sri Lanka 16.7 per cent

9 Bangladesh 0

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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