Business | General
Woman accused of embezzlement suspended
An Emirati female manager at etisalat, who has been accused of embezzling Dh27 million in company funds, has been suspended from work by the company pending an internal investigation, a source at the UAE telecommunications major revealed to Gulf News on Sunday.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 17:08 September 14, 2008
Abu Dhabi: An Emirati female manager at etisalat, who has been accused of embezzling Dh27 million in company funds, has been suspended from work by the company pending an internal investigation, a source at the UAE telecommunications major revealed to Gulf News on Sunday.
Findings
"The findings of the investigation will be submitted to the authorities. It is the court that will decide whether she's going back to work or going to jail," said the etisalat source, speaking on the condition of anonymity.
"At the moment, she's not in police custody, she's at home," said the source, while confirming that a police complaint is yet to be lodged by the company against the accused.
The etisalat source also said the accused was working for the company at its Dubai office and her misappropriation of the company's funds was discovered by etisalat about three weeks ago.
etisalat spokesman Ahmad Bin Ali was unavailable for comment when reached by Gulf News. Previously, Ali confirmed that the embezzled money had been recovered from the accused.
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No complaint yet
Last week an official at the Ministry of Interior told Gulf News: "We are aware of the case. However, etisalat is yet to officially lodge a complaint."
etisalat's shares yesterday declined at the Abu Dhabi Securities Exchange. The company's shares fell 4.24 per cent, ending at Dh15.30 per share on a bearish market where the general index fell 2.71 per cent to close at 3,925.08.
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