Sunday 27 September 2009

Property chief looking at long jail term

A company owner and chief executive faces life in prison over a string of charges relating to fraud and bounced cheques.

Peter Margetts, 46, from the UK, has already been sentenced to 20 years by the Dubai Courts and could face a further 118 years if found guilty on the remainder of the charges, all of which he denies.

Mr Margetts, the chief executive of the developer Hampstead & Mayfair, was indicted on four counts of fraud and 42 of issuing cheques that bounced. He has been convicted and sentenced on 13 of the counts, with 33 still to be judged in continuing hearings.

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