DIB $501m fraud case adjourned

The court hearing the case of Dubai Islamic Bank (DIB) fraud yesterday adjourned the case to May 3, in response to a request by the Public Prosecution to study defence memos asking for the acquittal of the seven defendants.

The defendants are accused of the embezzlement of $501 million (Dh1.84bn).

Earlier, the court listened to a testimony by an English lawyer specialised in settling commercial disputes.

Meanwhile, the Court of Cassation rejected challenges of the five defendants in Sama Dubai case and approved the jail term issued by the Court of Appeal.

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