Alba bribery case suspect granted bail
Manama, November 1, 2011
A billionaire businessman accused of bribing officials in Bahrain was yesterday granted bail by a British court in exchange for a £10 million security bond.
Victor Dahdaleh, 68, who is British and Canadian, is charged with corruption offences related to contracts between Alba and US-based Alcoa.
District Judge Quentin Purdy told Dahdaleh he would be granted bail until an appearance at London's Southwark Crown Court on January 13.
He ordered Dahdaleh to post £10 million in security and said he must observe a 10 pm to 6 am curfew at his central London home.
Friends and relatives of the billionaire, including senior executives from Credit Suisse and oil giant BP, also agreed to offer £1.42 million in sureties.
Dahdaleh is the chairman and owner of metals and chemicals firm Dadco and a trustee of the Clinton Foundation. He also has had close ties with Britain's Labour Party. – TradeArabia News Service
More Industry, Logistics & Shipping Stories
- Abraaj buys into Turkish dairy firm Yorsan
- Morocco revives plan to sell stake in port operator
- Sabic opens new $126m research facility
- UAE women entrepreneurs set for growth
- Major cruise liner docks at Abu Dhabi port
- MAG boosts Iraq shipping capacity by 60pc
- Sabic to distribute $2.4bn dividends in H2
- Pearl diving 'regains popularity' in Bahrain
- AerCap to buy AIG aircraft leasing unit for $5.4bn
- Safco to pay $1.6 per share cash dividend