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Ex-head of Dubai Properties freed after $35 million repaid
Former chairman released; investigation for alleged financial irregularities continues.
June 15, 2010 3:50 by Samuel Potter
Hashim Al Dabal, the former chairman of state owned Dubai Properties, has been released by the Dubai Prosecutor’s office, reports Bloomberg.
The move comes after Al Dabal made a payment of AED 130 million ($35.4 million) following an embezzlement investigation. He was accused of taking public funds.
Attorney General Essam Al Humaidan said that Al Dabal was released after he “deposited the embezzled money with the treasury of the Attorney General for the interest of Dubai Government.”
Al Dabal is still being investigated for abuse of power, according to an e-mailed statement from the government’s media office. He was arrested last year on suspicion of fraud at the company, says Bloomberg.
“It’s too early to explain the course of disposition on the counts as corruption cases require, in general, specific procedures by the law,” said Al Humaidan.
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3 Comments
Oh, so now everything’s fine? He stole the money without any intention of repaying it until he got caught.
Does that mean it’s okay to steal a car, as long as you return it when the cops find it? Snatch that handbag, and return it after being caught; no charge. Shoplift and face no consequences if you get arrested with the goods.
What the kind of legal system do they have in UAE? You can bet if Hashim Al Dabal was a foreigner he’d have been sentenced for the embezzlement, whether or not the funds were paid back.
The Dubai Prosecutors Office has just created a precedent for the perfect crime:
Embezzle money, put it in the bank earning interest, transfer the interest earnt to another account and use that as you wish. If caught, pay back the principle, and keep whatever interest you’ve earnt.
Brilliant!
you guys are looking at the glass half empty. where else in the GCC is any one prosecuted?