A billionaire businessman accused of bribing officials in Bahrain was yesterday granted bail by a British court in exchange for a £10 million security bond.

Victor Dahdaleh, 68, who is British and Canadian, is charged with corruption offences related to contracts between Alba and US-based Alcoa.

District Judge Quentin Purdy told Dahdaleh he would be granted bail until an appearance at London's Southwark Crown Court on January 13.

He ordered Dahdaleh to post £10 million in security and said he must observe a 10 pm to 6 am curfew at his central London home.

Friends and relatives of the billionaire, including senior executives from Credit Suisse and oil giant BP, also agreed to offer £1.42 million in sureties.

Dahdaleh is the chairman and owner of metals and chemicals firm Dadco and a trustee of the Clinton Foundation. He also has had close ties with Britain's Labour Party. – TradeArabia News Service