Riyaz Sayed-Khaiyum and Sagar’s abuse of office, dishonestly causing a loss case to be called on June 3rd

The hearing for Riyaz Sayed-Khaiyum and Vimlesh Sagar abuse of office and dishonestly causing a loss will be called on June 3rd.

The two appeared before Magistrate Charles Ratakele this morning.

They have been given 14 days for pretrial issues, and their bail has been extended.

Sayed-Khaiyum is charged with one count of abuse of office and one count of general dishonesty causing a loss while Vimlesh Sagar is charged with one count of general dishonesty – causing a loss.

The incidents are alleged to have occurred between September 1st and November 1st 2022.

It is alleged that between 1st July 2017 to 31st January 2023 while being employed as the CEO of FBC Sayed-Khaiyum abused his office, and did arbitrary acts namely initiating five legal proceedings on behalf of FBC without the knowledge and approval of the Board of Directors which amounted to $138,813.

It is also alleged that between 1st July to 31st January 2023, Riyaz Sayed-Khaiyum dishonestly caused a loss to FBC by pursuing legal cases which were not in the interest of the company amounting to $138,813 knowing that the loss would occur or that there was a substantial risk that the loss would occur to FBC.