Written By: Hesham Sami Al-Kibsi
Article Date: May 7, 2012 - 2:28:02 PM
Leaked official documents revealed that Defected General Ali Mohsen al-Ahmar is the one undermining the efforts of delivering the depositors’ money for withdrawal which has been subject to organized defalcation by the banks’ board members who enjoyed the protection and patronage of the defected general in return of huge amounts of money.
Ever since the banks’ bankruptcy declaration years ago and till these days the Liquidation Committee wasn’t able to repay the depositors money because the control of influential individuals over properties, real-estate and assets belonging to the bank were using them as they please and rejecting the judicial authority’s' implementation of decrees issued by the commercial court that ordered the selling of the banks properties and the refund of the depositors money which the liquidation committee couldn’t pay and consist of 50% of the depositors.
The sum of these assets has reached a total of 3.1 billion YERs the most prominent asset was a piece of land located in the Central Market, 60th St. also known as Ali Mohsens’ Market which value is estimated to be worth more than 0.5 billion YERs and belongs to the National Bank.
According to the documents the Cinema Complex (AKA Haddah Cinema) which was sold to the bank by the Yemeni businessman “Tawfiq Al-Khamiry” and worth more than 1.5 billion YERs is still under the control of General “Ali Mohsen” through some Sheikh’s tribesman who occupy it, which gets in the way of selling the property in order to refund the depositors’ money.
The documents also disclose the names of brokers and influential individuals who are advocates of the defected general and are hindering the selling of other bank assets and still in control of a firm in Taiz called the “Mahyob Group” also belonging to the defected General.
The total value of the assets belonging to the bank is US$400 Million in addition to the burglary of 1.495 billion YERs by the same group in the form of debts for the companies belonging to individuals loyal to the defected general as a cover. The documents clarify that the liquidation committee has addressed the PM in the notification #109 for the year 2011 about the increasing pressures of the depositors and creditors who are claiming for their belongings therefore addressing the government to sell the properties.
The note included the most important assets which are the Central Market aka Ali Mohsens' Market in the 60th St., the Haddah Cinema Complex, Al-Mahyob Center, the Hasab property in Taiz and the Osaiferah building as well as requesting the government to collect the banks debts currently in the hands of leading traders, corps. and investors, to pay the depositors their money or else the depositors have threatened to hold arms and take their rights by force. According to the documents that were published by the "Methaq" newspaper, Ali Mohsens' middlemen are still cadging on these properties and getting tens of millions YER monthly as profit and distributed to the defected generals bank accounts using the cover of his advocates and brokers.
Translated by Hesham Sami Al-Kibsi Sources- al Ghomoriya
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