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