Client Money, Trust & Escrow
Segregated beneficiary subledgers, evidence-gated release controls and three-way reconciliation — treasury, finance, legal and auditors protect funds the Entity Company holds for others.
FIN-13
RPT-29
Segregated funds held
AED 4,720,000.00
4 segregated bank accounts · 38 beneficiaries
Releases pending approval
3
All require independent approver + evidence
Unexplained differences
AED 1,250.00
EXC-CM-07 — blocks JUN close
Stale funds > 180 days
2
High-priority exceptions raised
Payment denied — CM-REL-0092
- Rule fired
CM-RULE-02— beneficiary/purpose must link to the source transaction- Requested payee
- GulfTech Facilities LLC — Not a beneficiary of CM-ESC-01
- Funds moved
- None — beneficiary balances unchanged
- Audit reference
- AUD-2026-55321 · actor, account, amount, rule, timestamp recorded
- Escalation
- Notified: Fatima Rashid (Finance Manager), Mariam Al Suwaidi (Legal)
Denial audit timeline — CM-REL-0092
- 16 Jul 2026 15:52Escalation notices delivered
- 16 Jul 2026 15:47Payment DENIED by rule CM-RULE-02
- 16 Jul 2026 15:46Release request CM-REL-0092 submitted
- 16 Jul 2026 15:44Beneficiary verification failed pre-checks
Segregated accounts — bank vs control vs beneficiary subledger
Bank reconciliation
| Account | Fund class | Bank (masked) | Bank balance (AED) | Control account (AED) | Subledger total (AED) | Difference | Status |
|---|---|---|---|---|---|---|---|
| CM-DEP-01 Security deposits — residential | Security deposit | AE07 0331 •••• •••• •••• 456 | 1,264,500.00 | 1,264,500.00 | 1,264,500.00 | 0.00 | Reconciled 17 Jul 06:00 |
| CM-ESC-01 Escrow — Prototype Residences off-plan | Escrow | AE44 0260 •••• •••• •••• 118 | 2,845,000.00 | 2,845,000.00 | 2,843,750.00 | 1,250.00 | EXC-CM-07 — unexplained, investigating |
| CM-STK-01 Stakeholder — resale completions | Stakeholder | AE91 0030 •••• •••• •••• 774 | 486,500.00 | 486,500.00 | 486,500.00 | 0.00 | Reconciled 17 Jul 06:00 |
| CM-TRST-01 Trust — landlord rental collections | Trust | AE18 0450 •••• •••• •••• 209 | 124,000.00 | 124,000.00 | 124,000.00 | 0.00 | Reconciled 17 Jul 06:00 |
| Totals | 4,720,000.00 | 4,720,000.00 | 4,718,750.00 | 1,250.00 | Zero-unexplained-difference gate FAILING | ||
Unresolved differences create high-priority exceptions and block fiscal close where configured — see close gate 8 and report RPT-29 in control reports.
Beneficiary subledger — CM accounts (extract)
Attribution: beneficiary · deal · property
| Beneficiary | Account | Deal / property | Purpose | Held (AED) | Release condition | Status |
|---|---|---|---|---|---|---|
| ANAmina Noor | CM-DEP-01 | LSE-2026-0071 · PR-A-1104 | Security deposit | 12,500.00 | Lease end + inspection clear | Held |
| Falcon Trading FZ-LLC UBO: Khalid Mansour 60% / Sara Mansour 40% | CM-ESC-01 | DEAL-2026-0142 · PR-B-3204 | Off-plan milestone escrow | 1,850,000.00 | Milestone 3 engineer certificate | Held |
| Noor Development Group | CM-ESC-01 | PRJ-PR-B · retention | Contractor retention | 640,000.00 | Defects liability period end 30 Sep 2026 | Held |
| HKHana Khalifa | CM-DEP-01 | LSE-2025-0298 · PR-A-2210 | Security deposit refund | 15,000.00 | Lease ended 30 Jun · inspection passed | Release pending approval — CM-REL-0090 |
| Falcon Trading FZ-LLC | CM-STK-01 | RSL-2026-0027 · PR-A-707 | Resale completion stakeholder | 486,500.00 | Title transfer registration | Release pending approval — CM-REL-0091 |
| MJMarco Jansen | CM-DEP-01 | LSE-2024-0119 · PR-B-902 | Security deposit | 11,000.00 | Lease ended 12 Dec 2025 — no refund claim | Stale funds — 214 days · EXC-CM-05 |
| Beneficiary 784-19●●-●●●●●●●-● Masked — restricted case, MLRO hold | CM-DEP-01 | LSE-2025-0203 | Security deposit | 14,500.00 | Compliance hold — AML case | Frozen — compliance |
| RSRania Suleiman | CM-DEP-01 | LSE-2026-0102 · PR-A-1508 | Security deposit refund | 13,750.00 | Refunded 08 Jul · receipt RCT-2026-1820 | Released — evidence complete |
| Subledger extract total (8 of 38 beneficiaries) | 3,043,250.00 | Negative balances: prohibited — none exist | ||||
Release request — controls before transferDraft CM-REL-0093
Only subledger beneficiaries of the selected account are listed.
Cannot exceed beneficiary balance — negative balances are prohibited.
Documented receipt source, purpose and conditions are mandatory (FIN-13).
Approver must be independent of the requester (SoD enforced).
Consequence: transfer AED 15,000.00 from segregated CM-DEP-01 to verified beneficiary IBAN.
Beneficiary verification — CM-REL-00934 of 4 checks passed
| Check | Evidence | Verified by | Result |
|---|---|---|---|
| Name matches contract party | Lease LSE-2025-0298 signatory “Hana Khalifa” | System + Daniel Chen | Match |
| IBAN ownership confirmed | Bank confirmation letter · IBAN AE55 0331 •••• •••• •••• 812 | Treasury | Verified |
| Sanctions / PEP screening | Screen SR-2026-2291 · list version 2026-07-15 | Noura Saeed | Clear |
| Relationship to source transaction | Tenant of record — deposit received RCT-2025-2214 | System | Related |
Any failed check re-routes the release to Legal review; unrelated payees are denied outright (see CM-REL-0092 above).
Funds held by class — three-way reconciledChart + table alternative
| Fund class | Beneficiaries | Held (AED) | Pending release (AED) | Reconciliation cadence | Status |
|---|---|---|---|---|---|
| Escrow — off-plan | 6 | 2,845,000.00 | 0.00 | Daily 06:00 | 1 unexplained difference |
| Security deposits | 27 | 1,264,500.00 | 15,000.00 | Daily 06:00 | Reconciled |
| Stakeholder | 3 | 486,500.00 | 486,500.00 | Daily 06:00 | Reconciled |
| Trust — rental collections | 2 | 124,000.00 | 0.00 | Daily 06:00 | Reconciled |
| Total | 38 | 4,720,000.00 | 501,500.00 | Close gate: zero unexplained differences required | |
Static render mockup — no live data. Source: ERP Modern Development Specification v2.0 · Covers: FIN-13 (segregation, subledger attribution, release controls, denial of unrelated payments) with RPT-29 reconciliation.