Corruption cases that rocked Dubai
A string of arrests and unprecedented action by financial regulators shows that the emirate is clamping down on fraud. We take a look at six cases that shook Dubai Inc.
March 25, 2010 4:29 by Katherine Azmeh
As Dubai struggles to restructure billions in debt, state authorities are cracking down on financial improprieties, sending a message of zero tolerance on corruption as the emirate looks to rebuild investor confidence.
Dozens of high profile investigations have made headlines, exposing vulnerabilities in systems that were supposed to regulate the business environment.
In April 2009, Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum, said the city would continue fighting corruption. “There is no room for corruption and the corrupt… In all corruption cases, people are not only prosecuted and punished, administrative and legal holes that they exploited to commit their crimes are plugged,” he said. “No one in the Emirates is above the law and accountability.”
A year on, we take a look at six of the highest-profile cases of alleged financial impropriety.
1. Omar bin Sulaiman, Former Governor, DIFC
Earlier this week, it emerged that Omar bin Sulaiman, former governor of the Dubai International Financial Center, has been detained by authorities for questioning. No official charges have been announced and the investigation had not been referred to prosecutors, according to local press reports.
Allegations that Sulaiman committed abuses of his position as a public servant and financial irregularities estimated $13.6 million are the subject of the inquiry, according an unnamed law enforcement officer quoted by Gulf News. Sulaiman has reportedly been in official custody for more than a week.