Former GFH Capital executive arrested

Dubai Police have arrested former deputy chief executive and legal consultant of GFH Capital Limited on charges of treason and breach of trust and referred him to the Public Prosecution for trial.

GFH Capital, a Dubai International Financial Centre-based company, has filed a lawsuit against David Lawrence Haigh, a Briton, for embezzling Dh23.7 million.

The company discovered the legal irregularities committed by Haigh when it conducted its annual internal accounting audit.

A press statement from the company said "GFH Capital understands that a  former employee has been arrested in Dubai and charged on suspicion of fraud, embezzlement and money laundering while he was employed at the bank.  We are unable to provide any further details at this stage while the case is being considered by the authorities."