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Wednesday, 15 March 2017

Deyaar’s ex-CEO loses two appeals, jailed for 25 years | GulfNews.com

Deyaar’s ex-CEO loses two appeals, jailed for 25 years | GulfNews.com:

"Deyaar’s former chief executive officer will spend 25 years in jail and pay around Dh92 million in fines after he lost two appeals in graft cases of abusing office and misappropriating funds. The 52-year-old American-Lebanese ex-CEO was fighting two appeals before the Dubai Appeal Court and seeking acquittal in two graft cases in which he was accused of indulging in financial irregularities to the tune of Dh56 million and Dh43 million, respectively, during his tenure at Deyaar. Presiding judge Saeed Salem Bin Sarm rejected former CEO’s appeals and upheld the two primary judgements, according to which the American-Lebanese convict will serve two jail terms, 15 years and 10 years."



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