There was something like this mentioned on Dubai7stars.Maybe you guys should check that out as well. You should definitely contact someone in the authorities to do something about your case
It's going to be an uncomfortable summer for those without a clear conscience original published Arabian Business http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=528460&newsletter=1
White-collar crime rarely captures the imagination as easily as its garden-variety counterparts.It seems you have to bring down a bank, hide billion-dollar losses or at least plunder a pension plan in order to secure column inches alongside the murder du jour.
Part of the reason is in the telling - after all, it's unfortunately far easier to picture a grisly death, than it is to follow how the judicious use of special purpose entities might scupper a $111bn energy giant, or how one city whiz-kid with delusions of grandeur could blindside a 144 year-old Swiss bank with an alleged $75bn in unauthorised trades.
However, the summer of 2008 will be keenly remembered for a string of high-profile investigations into alleged financial irregularities by senior executives at both Dubai Government-owned and private entities.
If the public prosecutor's suspicions are proved accurate, then His Highness Sheikh Mohammed Bin Rashid Al Maktoum's drive for transparency - which is to be applauded - will have claimed its first scalps.
The summer of summonses began in April, and the announcement of probes into the activities of individuals at Dubai Islamic Bank (DIB) and its affiliate Deyaar.DIB's former vice president for finance structure, Rifaat Othmani, was arrested as part of a fraud investigation on June 5. He and several other former members of DIB staff are being investigated, while the probe also led to the arrest of JPMorgan Chase's senior country officer for the UAE, Omair Mooraj.At development firm Deyaar, meanwhile, four people have been arrested as part of a police investigation into alleged embezzlement.
Those hauled in include Deyaar's former CEO, Zack Shahin, who has since maintained his innocence.Ever since the DIB and Deyaar investigations were made public, rumours have run rife that a host of other high-profile figures were also in the firing line. It has been a summer of ‘when', not ‘if', and so it came as no surprise when more arrests were announced last week.
First to be named was Adel Al Shirawi, the former CEO of mortgage giant Tamweel, and now vice chairman of state-owned Istithmar World PJSC. His former head of investments Feras Kalthoum is under the microscope too.
Down the road at Dubai Government-owned developer Nakheel, general manager of sales Walid Al Jaziri and former Nakheel executive Karim Masaad have also been arrested.
We can be sure that the public prosecutor's office is not done yet. Amid tales of tender-rigging, bribery and profit skimming, the government is steadily making its way down a list of names, and circling those unable to balance the books or account for their lavish lifestyles.
This week, sources told Arabian Business that the CEOs of at least two other Dubai development majors - between them responsible for a completed project portfolio worth over $100bn - are currently the subject of CID probes.
It's going to be an uncomfortable summer for those without a clear conscience.
Andrew White is the deputy editor of Arabian Business English
5 comments:
Thank God for I was in the process of buying office space to shift our iraqi company here.
There was a time when the name Al Fajer was good enough
Now, I think is a difficult time.
You can never be sure
They are listed under a different name with the authorities.
Maybe they think they can fool the investors with falsified information
If you complain now... it will all fall into place.
Dont wait for them to just fold as I already know of a case where the person hasnt got even a penny of his money back
There was something like this mentioned on Dubai7stars.Maybe you guys should check that out as well.
You should definitely contact someone in the authorities to do something about your case
It isnt going to happen...
unless yu shout out to sum1 important in dubai...
lets see who u reach...
DZ is totally clean TILL THEY RE HELD IN CONTEMPT!:)
T . I . D
This Is Dubai
best o luck! Lol:p
It's going to be an uncomfortable summer for those without a clear conscience
original published Arabian Business
http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=528460&newsletter=1
White-collar crime rarely captures the imagination as easily as its garden-variety counterparts.It seems you have to bring down a bank, hide billion-dollar losses or at least plunder a pension plan in order to secure column inches alongside the murder du jour.
Part of the reason is in the telling - after all, it's unfortunately far easier to picture a grisly death, than it is to follow how the judicious use of special purpose entities might scupper a $111bn energy giant, or how one city whiz-kid with delusions of grandeur could blindside a 144 year-old Swiss bank with an alleged $75bn in unauthorised trades.
However, the summer of 2008 will be keenly remembered for a string of high-profile investigations into alleged financial irregularities by senior executives at both Dubai Government-owned and private entities.
If the public prosecutor's suspicions are proved accurate, then His Highness Sheikh Mohammed Bin Rashid Al Maktoum's drive for transparency - which is to be applauded - will have claimed its first scalps.
The summer of summonses began in April, and the announcement of probes into the activities of individuals at Dubai Islamic Bank (DIB) and its affiliate Deyaar.DIB's former vice president for finance structure, Rifaat Othmani, was arrested as part of a fraud investigation on June 5. He and several other former members of DIB staff are being investigated, while the probe also led to the arrest of JPMorgan Chase's senior country officer for the UAE, Omair Mooraj.At development firm Deyaar, meanwhile, four people have been arrested as part of a police investigation into alleged embezzlement.
Those hauled in include Deyaar's former CEO, Zack Shahin, who has since maintained his innocence.Ever since the DIB and Deyaar investigations were made public, rumours have run rife that a host of other high-profile figures were also in the firing line. It has been a summer of ‘when', not ‘if', and so it came as no surprise when more arrests were announced last week.
First to be named was Adel Al Shirawi, the former CEO of mortgage giant Tamweel, and now vice chairman of state-owned Istithmar World PJSC. His former head of investments Feras Kalthoum is under the microscope too.
Down the road at Dubai Government-owned developer Nakheel, general manager of sales Walid Al Jaziri and former Nakheel executive Karim Masaad have also been arrested.
We can be sure that the public prosecutor's office is not done yet. Amid tales of tender-rigging, bribery and profit skimming, the government is steadily making its way down a list of names, and circling those unable to balance the books or account for their lavish lifestyles.
This week, sources told Arabian Business that the CEOs of at least two other Dubai development majors - between them responsible for a completed project portfolio worth over $100bn - are currently the subject of CID probes.
It's going to be an uncomfortable summer for those without a clear conscience.
Andrew White is the deputy editor of Arabian Business English
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