Emir of Abu Dhabi fights for £32m ‘siphoned’ from London property empire | News | The Times:
The Abu Dhabi royal family has accused its former property managers in London of siphoning tens of millions of pounds in fraudulent payments.
A High Court case has been brought by Berkeley Square Holdings, which owns £5 billion of properties in the capital. It is ultimately controlled by Sheikh Khalifa bin Zayed Al Nahyan, emir of Abu Dhabi and president of the United Arab Emirates, who was revealed by the 2016 Panama Papers to have built one of the biggest offshore property empires in Britain.
His assets include about 140 properties in exclusive parts of London, including the Berkeley Square estate in Mayfair, where tenants include Hermès, Alice Temperley and Annabel’s nightclub.
The case will feed speculation over the health of the ruler after defence lawyers stated it was an “open secret” that Sheikh Khalifa, 71, was incapacitated by a stroke in 2014, with others in the Nahyan family running the country.
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The Queen meeting Sheikh Khalifa in 2010.His health has since deteriorated
JOHN STILWELL/GETTY IMAGES
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The Abu Dhabi royal family has accused its former property managers in London of siphoning tens of millions of pounds in fraudulent payments.
A High Court case has been brought by Berkeley Square Holdings, which owns £5 billion of properties in the capital. It is ultimately controlled by Sheikh Khalifa bin Zayed Al Nahyan, emir of Abu Dhabi and president of the United Arab Emirates, who was revealed by the 2016 Panama Papers to have built one of the biggest offshore property empires in Britain.
His assets include about 140 properties in exclusive parts of London, including the Berkeley Square estate in Mayfair, where tenants include Hermès, Alice Temperley and Annabel’s nightclub.
The case will feed speculation over the health of the ruler after defence lawyers stated it was an “open secret” that Sheikh Khalifa, 71, was incapacitated by a stroke in 2014, with others in the Nahyan family running the country.
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