Dubai: The Dubai Criminal Court has referred the fraud case of Dubai Islamic Bank (DIB) to the Public Prosecution to carry out further investigation.
Counsellor Khalifa Rashid Bin Deemas, Acting Dubai Attorney General, announced that the case has been referred to the Public Prosecution as the allegedly swindled money is considered public funds.
He said that necessary actions will be taken on the basis of the findings. Bin Deemas said the suspects are in custody pending reinvestigation as per a ruling issued earlier by the court.
Bin Deemas was reacting to the press which commented on the decision of criminal court session on August 9, on the referral of the case to the public prosecution to reinvestigate the alleged fraud.
He said the prosecution had earlier referred seven suspects accused of swindling Dh1.8 billion from the bank to court on March 10, 2009, and has since been following up the case.
Earlier, the public prosecution had referred the seven to court accusing them of swindling, embezzlement, involvement in a crime, forging of an official document and use of a forged official document.
The case is the biggest in terms of amount of financial irregularities.
