UAE | Crime
Etisalat embezzlement accused is a national
Female manager was under investigation and will be brought before court for Dh27 million fraud.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 23:49 September 8, 2008
Abu Dhabi: A spokesman for Etisalat on Monday confirmed to Gulf News that the company's female manager accused of embezzling Dh27 million is a UAE national.
"She is an Emirati. The money has been recovered from her," Ahmad Bin Ali said by telephone.
However, he wouldn't name her or reveal in which emirate she has been working for Etisalat.
Previously, Ali said that after the embezzlement was discovered by Etisalat, the accused - an executive responsible for dispensing salaries - was placed under investigation and will be brought before court. He also said the company is coordinating with the security officials.
When contacted by Gulf News, an official at the Ministry of Interior said: "We are aware of the case. However, Etisalat is yet to officially lodge a complaint."
The news of embezzlement seemed to affect Etisalat's share value on Monday.
The company's shares fell 2.29 per cent, ending at Dh16.95 for the day on a bullish Abu Dhabi Securities Exchange, where the general index rose 0.47 per cent to close at 4168.97.
- With inputs from Rayeesa Absal, Staff Reporter
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