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Dubai Properties chairman 'arrested'

Dubai, October 31, 2009

The chairman of Dubai Properties has been arrested on suspicion of embezzlement at the company, according to a published report.

Hashim Al Dabal is accused of abusing his position and earning millions in illegal profit, Dubai's attorney general Essam Essa Al-Humaidan was quoted as saying by Arabian Business.

Dubai last year began an investigation into corruption in real estate companies, which benefited from surging demand after foreigners were allowed to buy property.

Al Dabal was arrested about 10 days ago, the attorney general said. Dubai Properties is a unit of Dubai Holding.

The company has confirmed the appointment of an acting replacement, Ahmad bin Byat.




Tags: Dubai Properties | arrested |

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