Ex-Deyaar CEO back in Dubai

Published Sunday, September 02, 2012

By Eman Al Baik

The UAE authorities received ZS, former CEO of Deyaar, a prime accused in a number of corruption cases, from the authorities of Yemen where he had fled after being granted bailed in July.

Attorney General Essam Issa Al Humaidan confirmed the extradition of the accused and said that the prosecution detained him after obtaining approval of Dubai Criminal Court on its request for cancelling his Dh5 million ($1.4 million) bail.

Al Humaidan said that when the prosecution knew about the fleeing of the accused, an international summons and red warrant had been issued.

Yemeni authorities arrested the accused on their soil and the necessary extradition procedures were completed.

Meanwhile, the Judicial Panel of the Dubai Criminal Court agreed on Sunday on the Dubai Prosecution’s request regarding amending allegations against the accused and other senior executives of the company.

According to the records, in November 2007 and afterwards, ZS, who is currently in central jail for other corruption cases, being the former CEO of Deyaar, an affiliate of Dubai Islamic Bank and in which the Dubai government has 13 per cent share, exploited his position and in collusion with five of the company’s executives and seniors committed a number of violations and swindling operations by submitting misleading information in a study related to the purchase of land in Houston in USA to MKK, former chairman of Deyaar’s administrative board MKK.

The other five executives of the company are ROD, 40, Malaysian, head of legal affairs department, ATS, 36, Pakistani, financial manager, ABK, 52, Australian, vice-head of the engineering department, WS, Lebanese, project manager (fugitive) and JK, executive operations head (fugitive).

ZS is also accused of colluding with MJ, representative of US-based EDG, and JP, chairman of EDG, (both Americans and fugitives) to buy from their company a plot of land in Houston.

JP also owns 70 per cent of the US-based ANT, the company that was assigned to manage a bank guarantee.

The court will reconvene on September 18.

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