The bribery charge was the president's justification for February's state of emergency.
Siyad Gasim is the son of a wealthy and influential opposition leader.
The conglomerate, owned and run by self-exiled Jumhooree Party leader Gasim Ibrahim, is said to have for paid for luxury Malaysian properties for two top judges.
It emerged at Sunday's pre-trial hearing that the prosecution is yet to obtain a crucial piece of evidence against the Villa conglomerate's managing director.
