six suspects in the Dubai Islamic Bank fraud case will be deported

<p>Six people convicted in a fraud and embezzlement case have been sentenced to ten years each and fined Dh1.8 billion, the amount they are accused of embezzling from Dubai Islamic Bank (DIB).<br />The Dubai Court of First Instance on Wednesday found the six defendants — including two Britons, an American and a Turk, all businessmen, and two former DIB executives, both Pakistanis — guilty of embezzling Dh1.8 billion from DIB.<br />Pronouncing the primary judgment in the biggest graft case to be heard in court since 2009, Presiding Judge Fahmi Mounir Fahmi said all the convicts will be deported after undergoing their punishments.<br />The charges against the defendants ranged from embezzling public funds [DIB's money], deliberately helping others to embezzle public funds, inflicting intentional loss to the government and its interests, and forging unofficial documents and using them to gain unlawful profits.<br />Acquittal<br />A 59-year-old British businessman, A.F., was acquitted of charges of aiding and abetting the defendants.<br />DIB's former financing department manager, U.H., 39, and his deputy, R.U., 50, and an American, Z.U. (who is at large) were additionally fined Dh7.2 million. They were also ordered to jointly repay DIB that same amount [Dh7.2 million] after the court convicted U.H. and R.U. of allowing Z.U. to embezzle the funds from DIB.<br />The three remaining defendants are two British businessmen, C.M. (49), R.L. (55), and A.I. (37), of Turkish nationality [who remains at large].<br />Compensation<br />"The court has also ordered all the defendants [except A.F.] to jointly pay Dh200,000 in temporary compensation to DIB," Presiding Judge Fahmi said upon pronouncing the judgment in courtroom four on Wednesday.<br />The primary sentence remains subject to appeal within 15 days.<br />A.F.'s lawyer Salah Beloushi argued that the accusations against his client were unsubstantiated. He contended that prosecutors had failed to corroborate their charges with firm evidence against his client.<br />DIB's lawyer Hassan Arab, of Al Tamimi and Company, said the defendants established a number of bogus companies and forged documents of bogus transactions before submitting them to DIB to finance their projects.<br />Dr Habib Al Mulla, U.H.'s lawyer, argued that prosecutors had added new charges but failed to heed an earlier jury's call for a fresh investigation to establish if there were any new suspects.<br />C.M. earlier exclaimed in court: "DIB has been repaid the amount [Dh1.8 billion] twice. Yet they are still claiming it for the third time." His lawyer Abdul Aziz Al Matroushi contended that witnesses [except the Financial Control Department's director] had testified that the bank did not incur any loss.<br />R.L.'s lawyer Yousuf Al Ali asked the court to dismiss the case citing jurisdictional issues.<br />Samir Gargash, R.U.'s lawyer, contended that her client had no connection to the forged receipts and transactions and hence asked the court to acquit him.</p><p> </p>

six suspects in the Dubai Islamic Bank fraud case will be deported

Six people convicted in a fraud and embezzlement case have been sentenced to ten years each and fined Dh1.8 billion, the amount they are acc...

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