Former Dubai Islamic Bank boss sentenced to three years in prison
SA, also formerly a board member with the developer Deyaar, is fined more than $27.2 million.
March 15, 2010 11:45 by Ben Flanagan
The former chief executive of Dubai Islamic Bank has been sentenced to three years in prison and fined more than $27.2 million for accepting a bribe and unlawful commissions, according to a report by The National.
‘SA’, an Emirati who served as DIB’s chief executive officer and is also a former board member with the developer Deyaar, was ordered to pay AED100,000 in civil compensation.
The Criminal Court of First Instance convicted the 40-year-old of accepting a AED11.75 million bribe to facilitate a property sale and collecting unlawful commissions worth AED16 million on the sale, according to the newspaper.
MORE DUBAI CORRUPTION STORIES
Five high-profile arrests in the UAE
Lawyers for jailed ex-Nakheel employees claim lack of detail in fraud charge
Why perception of corruption in the UAE is declining
British manager at Istithmar World given five year jail sentence
I-mate crippled by internal fraud
More on GCC
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Saudi Arabia confirms another death from SARS-like virus
-
Prepaid cards available across the UAE
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
Lately on Kipp
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Over 90% of passwords vulnerable to hacking
-
‘Renewable energy absolutely necessary’ – Saudi
-
NEC Display Solutions launches Full HD 3D ready compact meeting room projector
-
Saudi Arabia confirms another death from SARS-like virus
-
When Marketing Academia Met (& Meant) Business
1 Comment
How amusing that they name the person when arresting them, but still insist on initials now they’re convicted.