Deyaar ex-CEO gets 15 years jail in bribe case
Dubai, March 26, 2013
Former chief executive of Dubai developer Deyaar, Zack Shahin, has been sentenced to 15 years in jail after being found guilty of taking Dh20 million ($5.44 million) in bribes, reports said.
The Dubai Court of First Instance convicted 48-year-old Shahin of abusing his position and helping Thermo, a construction services company, to win a tender illegally, said a Gulf News report.
Shahin, a Lebanese American, had approved various contracts in return for bribes during his tenure at Deyaar between 2004 and 2007, the court ruled, according to reports.
Three others charged with aiding and abetting Shahin were each sentenced to 10 years in prison. The four were also fined about Dh28.55 million in total and ordered to repay the same amount to Deyaar. They were however acquitted of forging bills, the reports said.
All the defendants, except Shahin, were sentenced in absentia.
Shahin has 15 days to appeal against the verdict. He still faces two charges, including one of jumping bail. Shahin's lawyer said he would appeal the judgement.
More Government & Laws Stories
- Egypt to pay $1.5bn arrears to foreign oil firms
- Charles Russell opens Qatar office
- Egypt delays decision on $4.8bn IMF loan
- UAE, Netherlands sign investments deal
- Iran sees no big 2014 oil exports recovery
- Egypt ‘returned $500m deposit to Qatar’
- Bill to scrap expat levy is rejected
- Bahrain’s eGovt backs major ICT summit
- Teargas flies in Cairo as constitution takes shape
- Bahrain vows to build on reforms