How My Friend and His Dad Yahya Al Kodmani Stole My Dubai Company

  1. If an investor wants controlling majority, that is a bad investor. I know that when you are really trying to start and find money you convince yourself it’s a good deal.
  2. If things get sour and they demand an audit, retain an attorney immediately. You must conduct your own audit report in preparation for a storm. Later, you may not have access. Collect all the data you can while you do.
  3. Whoever has controlling majority can do whatever they want and there is absolutely nothing you can do about it. What you can do is create noise by sending court demands for financial reports. They will provide you with whatever they want and there is nothing you can do about it.
  4. Courts don’t understand business. WFH staff, hybrid, Internet-based work.. they don’t understand any of that. All they know is labor contract, lease contract, visas, how much in total. Don’t think that they can recognize that the external auditors are a shady outfit from Sharjah and my auditors are EY. They don’t know any of this. They just know, “he stole $$$”.
  5. Don’t think your staff that you hired yourself will stand up for you. They will not, because they want to keep their salary. Loyalty is only a birthday card deep.
  6. The first instance court doesn’t follow the law and they do this to meet KPI’s like how many cases resolved. The judge typically rules based on whatever the prosecutor says and lets you worry about it in appeals court if you want a proper hearing.
  7. In fact, the judiciary is not independent from the prosecution to the point where judge visas are issued by the Public Prosecutor. The prosecutor and the judge sit on the same side, facing you. I don’t know about you, but I can imagine judges not wanting to upset their sponsor. Only Appeals court judges are immune and held in high esteem.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Mo Elzubeir

Mo Elzubeir

2x founder. Lived in 7 countries, none of which is my own. I write about startups, marketing and technology. Subscribe: https://www.pandamistake.com/