Monday 29 June 2009

Submarine fraudster gets five-year term, goes under the radar

The former head of Dubai World's submarine unit was sentenced to five years in jail and fined Dh14 million for embezzlement in his absence yesterday.

HJP, from France, is on the run outside the UAE. He was convicted at Dubai Criminal Court of exploiting his position as manager of the Exomos division to embezzle Dh14m.

The court heard that HJP had told a Dubai World official that his company, Seahorse Submarines, could manufacture undersea craft for the group.

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