| Kippreport.com

Music to Kipp’s ears

August 19, 2009 3:20 by Dana El Baltaji

A year ago, the Dubai government launched numerous anti-corruption investigations in order to boost investor confidence, reported The National on Wednesday.

According to the report there are “11 investigations or court cases are under way; 34 executives are either in court or on their way there; and AED3.58 billion ($950 million) has allegedly been stolen or used as bribe money, according to files from public prosecutors that give the first overview of the whole operation.”

Executives at real estate and financial firms have been the focus of the government’s investigations.

Why couldn’t the government have revealed this nugget to the press sooner? Kipp’s been losing sleep over its ill-timed investments, thinking its life’s savings was shoved in a developer’s greasy suitcase, paying for his or her one-way first class seat to Rio.

Our money’s safe, right?

Hello?

Tags: anti-corruption, Dubai government, investigations