In a statement released today, the company confirmed it has launched a lawsuit in Florida's US Federal Court, accusing the French national Herve Jaubert of fraud, theft and other charges during his tenure as CEO of the Dubai World subsidiary Exomos.
The charges relate to Dh11.8 million of submarine equipment bought for Exomos, the submarine division of Dubai World, from Jaubert’s company Seahorse Submarines. Dubai World alleges the equipment never arrived as promised. Jaubert had also made an earlier commitment to repay Dubai World Dh3 million for equipment never supplied but fled abroad before settling.
Jaubert was convicted in absentia in the Dubai Criminal Court in June and was sentenced to five years’ jail and fined Dh14 million.
The Frenchman, who says he's a former spy, has made dramatic claims about dressing in a burqa to evade police and escaping the UAE in a dinghy. He told local media he spent six hours aboard the dinghy before meeting a friend with a boat and reaching India after eight days at sea.
In its statement, Dubai World said: “Dubai World is fully confident that the US court will come to the same conclusion as a Dubai court did, that Mr Jaubert misrepresented his ability to design and build submarines to obtain his position as CEO of Exomos, and then used that position to steal missions of dollars from Dubai World.”
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