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Ex-Minister Embezzles $26 Million

United Arab Emirates - Thursday, April 9, 2009

The public prosecutor in Dubai disclosed a corruption case that involves 12 persons led by Ex-minister for financial affairs and industry Dr. Mohammad Khalfan Kharbash who are accused of embezzling no less than 100 million Dirhams ($26 million) from Al-Diyar real estate company. Kharbash was chairman of the board of that company. The defendants were referred to the criminal court in Dubai. The other 2 main defendants are the CEO of Al-Diyar company (an American) and an Indian executive who was able to leave the country.
Source: Al-Sharq – Qatar


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