A stock brokerage company in Abu Dhabi is accusing its ex-manager of swindling Dh500 million and transferring the money to banks in Lebanon and Switzerland although the defendant is denying the charges.
An appeals court which heard the case on Sunday listened to a witness who said the unnamed former manager had offered an out-of-court settlement with the company but only after leaving the UAE.
In its report on Monday, the Dubai-based Albayan newspaper quoted company officials as saying data in the defendant’s personal computer showed he has one bank account in Lebanon and four accounts in Swiss banks.
“The defendant denied all the charges, prompting the court to adjourn hearings to November 30,” the paper said.