UAE | Crime

Suspects grilled over bank fraud

Seven suspects are being questioned for their alleged involvement in the Dubai Islamic Bank's (DIB) financial irregularities case.

  • Staff Report
  • Published: 23:44 June 15, 2008
  • Gulf News

Dubai: Seven suspects are being questioned for their alleged involvement in the Dubai Islamic Bank's (DIB) financial irregularities case.

Dubai Public Prosecution records show that seven suspects including DIB's former deputy director for project finance, 50-year-old Pakistani, R.I.U., his 39-year-old compatriot U.H.M., executive director of JPMorgan Chase & Co in Dubai, 44-year-old Turkish visitor, R.N., 49-year-old British visitor, C.M., and his 54-year-old compatriot visitor, R.L., 41-year-old American manager, Z.U., and 58-year-old British, A.P., are facing charges of swindling.

Sources said police received a tip-off on the alleged financial irregularities on June 1 and arrested the first suspect on June 3. Gulf News sought to contact Dubai Attorney General Eisam Eisa Al Humaidan but without success.

Media reports quoted Simon Goldsmith, the second secretary for political and media affairs in the British Embassy in Dubai, saying they are aware of the case and are offering consular assistance to their citizens.

A bank statement issued on June 11 confirmed the reports and said the investigations will have no financial impact on the company.

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