dubai: a senior official working with one of the leading real estate
developers in dubai is under scanner for allegedly taking $816.8
million as bribe, the latest trade scandal to crop up in the gulf
business hub.
walid al jaziri, general manager of sales at nakheel, the state-owned
company behind dubai's iconic projects such as palm islands and the
world, has been accused of committing financial fraud to the tune of
$816.8 million.
the company has denied the charges, saying, “no embezzlement has taken
place within nakheel and the figure of $816.8 million quoted is
categorically incorrect.”
however, a nakheel spokesperson has told the gulf news that the company
regularly conducts internal audits as part of its commitment to a
transparent corporate governance. “as a result of this internal audit
process, the company can confirm that a member of staff is being
interviewed by the authorities.”
it insisted the allegations of financial irregularities are “in
relation to the acceptance of sums paid to an employee by third
parties”.
this is the latest case in a series of graft probes in dubai in recent
weeks. there have been reports of an investigation into an alleged
financial fraud at real estate finance company
