Ex Drake and Scull CEO arrested, faces possible extradition to the UAE - Arabianbusiness:
Khaldoun Tabari, the former CEO of Dubai-based contractor Drake and Scull International (DSI), was arrested by Jordanian authorities at the Queen Alia International Airport in Amman as he was catching a flight to the United Kingdom.
His arrest follows the issuing of an Interpol red notice against him on January 7, according to a senior DSI company representative who asked not to be named. Tabari was facing criminal charges filed by DSI in Jordan at the time of his arrest. He has since been released on bail after providing his passport as a personal guarantee.
DSI began reporting losses in 2015 after the decline in oil prices forced developers and clients to defer payments and delay projects. In 2018, it accused Tabari and former management of taking “deliberate and conscious” decisions to conceal millions in losses for the years 2009-2016. In November 2019, it said previous management hid around $817m in losses.
Last year, a report by the company said a 2016 restructuring plan was developed on “false information of backlog value, misrepresented projects' profitability and percentage of completion”. Tabari was the second biggest shareholder in the company before selling his stake
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