Sunday 12 July 2009

Trial begins in third Deyaar case

DeyaarImage via Wikipedia

The Dubai Court of Misdemeanour started hearings on Thursday in a trial of nine accused of embezzlement at real estate company Deyaar.

The nine have been charged with embezzling some Dh271 million from the company. The case is an offshoot of two other cases being heard by Dubai Criminal Court also relating to corruption in Deyaar. Three defendants are being tried in the first case, including former minister and Deyaar chairman MK, the company's former CEO ZS, a US citizen, and Indian national JD, who is at large. JD is also one of the accused in the case that started on Thursday.

The three are charged with corruption and the embezzlement of around Dh97.6m from Deyaar's funds.

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