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    AMANAT   AEA005901011

AMANAT HOLDINGS PJSC

(AMANAT)
  Report
End-of-day quote. End-of-day quote Dubai Financial Market - 10/28
1.13 AED   -0.88%
09/26AMANAT : Divestment of IMC for SAR 443 Million
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09/19AMANAT : Appoints John Ireland as CFO
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08/19'Twilight' investor sentenced to five years prison in fraud case
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'Twilight' investor sentenced to five years prison in fraud case

08/19/2021 | 04:54pm EDT

NEW YORK, Aug 19 (Reuters) - A technology entrepreneur who invested in the studio behind the "Twilight" films was sentenced to five years in prison on Thursday after being convicted of fraud related to the video technology company Kit Digital Inc.

Omar Amanat, a father of six who turned 49 on Aug. 15, had been convicted in December 2017 along with Kit Digital's former chief, Kaleil Isaza Tuzman, a one-time Goldman Sachs analyst.

Before sentencing Amanat, U.S. District Judge Paul Gardephe in Manhattan expressed incredulity that the "highly gifted and intelligent" defendant could display an "extraordinarily high" level of criminal culpability.

"He did not make one bad decision. He made countless bad decisions," Gardephe said. "Why he engaged in criminal conduct is a mystery."

Amanat could go free soon because his 44 months in jail at Manhattan's Metropolitan Correctional Center and Brooklyn's Metropolitan Detention Center since his conviction will be credited toward the sentence. He was also fined $175,000.

Prosecutors said Amanat, Tuzman and a Maiden Capital hedge fund manager conspired from December 2008 to September 2011 to manipulate Kit Digital stock by having Maiden buy and sell shares, creating an illusion of greater trading volume to support a higher stock price.

Kit Digital filed for bankruptcy in 2013.

Amanat also schemed to defraud Maiden investors by having the fund hide losses in Enable, a Dubai-based fund for which he had raised money, prosecutors said.

Jurors convicted Amanat of wire fraud, aiding and abetting investment advisor fraud, and two conspiracy charges.

"There is no fancy way to say this: I was wrong," Amanat said before being sentenced. "My father passed away while I was in solitary. I couldn't say goodbye. He was a good man, and he deserved a better son."

Prosecutors had sought a prison term of up to 14 years.

Amanat was an early backer of Summit Entertainment, the Lions Gate Entertainment Corp studio unit behind the "Twilight" series and whose other releases include the Oscar-winning "The Hurt Locker."

Tuzman's sentencing is scheduled for Sept. 10.

The case is U.S. v. Amanat, U.S. District Court, Southern District of New York, No. 15-cr-00536. (Reporting by Jonathan Stempel in New York; Editing by Steve Orlofsky)


ę Reuters 2021
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Financials
Sales 2021 - - -
Net income 2021 322 M 87,7 M 87,7 M
Net Debt 2021 - - -
P/E ratio 2021 8,77x
Yield 2021 1,75%
Capitalization 2 840 M 773 M 773 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float 51,1%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 1,14 AED
Average target price 1,30 AED
Spread / Average Target 14,0%
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Managers and Directors
Mohamed M. A. Hamada Hamada Chief Executive Officer
Hamad Abdulla Rashed Obaid Al-Shamsi Chairman
Omar Al Hashemi HR & Operations Manager
Abdullah Al Baker Al Zaabi Internal Audit & Compliance Manager
Shamsheer Vayalil Parambath Vice Chairman
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