Businessmen jailed over Dh44m property scam - The National Newspaper

The former heads of Tamweel and Dubai Islamic Bank (DIB) and the chief executive of the property developer Bonyan have been jailed and ordered to pay Dh51.7 million (US$14m) in fines and repayments after being convicted of bribery and embezzlement.

AS, 38, the former chief executive of Tamweel, the UAE’s largest mortgage lender, and his deputy AN, 44, were each sentenced to three years in prison by the Dubai Criminal Court of First Instance.

The former DIB chief executive and Tamweel executive manager, SA, 40, was sentenced to a year in jail along with Bonyan boss AA and FA, 28, a Jordanian who was a senior Tamweel executive and its chief investment officer.