Wednesday, 27 June 2012

Banker to fight four-year term for embezzlement - The National

Majid Al Refai, the banker sentenced to four years in prison by a Bahraini court for embezzlement, is to fight the verdict from his native Kuwait, says his adviser.

The former chief executive of Bank Alkhair, an Islamic wholesale bank based in Bahrain, Al Refai was this week found guilty by a Bahraini court of embezzlement, misappropriating bank funds and destroying bank records.

"He continues to assert his innocence of these charges, and is exploring all legal routes for challenging the verdict from Kuwait," said one of his advisers, who declined to be identified.

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