Monday, Mar 09, 2009
DUBAI (Zawya Dow Jones)--Dubai Public Prosecution has officially referred to court an alleged bribery and embezzlement case involving former executives of Dubai Islamic Bank (DIB.DFM).
"The suspects received on Thursday bill of indictment," Habib Al Mulla, a Dubai-based lawyer representing one of the suspects told Zawya Dow Jones Monday.
A public prosecution official who declined to be identified confirmed that the case has been referred to court.
The case involves Dubai-based British businessman Arthur Fitzwilliam along with six others as part of an investigation into alleged wrongdoing at the bank.
According to Dubai Public Prosecution records seen by Zawya Dow Jones, those detained in the case also include Omair Mooraj, the Middle East head of Islamic banking at U.S. investment bank JP Morgan Chase & Co. (JPM) and former employee of DIB; Charles Ridley, a Bahrain-based British banker and his business associate Ryan Cornelius; Rifat Usmani and his brother Ziad Usmani.
Al Mulla said he is representing Mooraj in the case.
-By Mirna Sleiman, Dow Jones Newswires, +9714-364-4966, mirna.sleiman@dowjones.com
Copyright (c) 2009 Dow Jones & Co.
(END) Dow Jones Newswires
09-03-09 0628GMT
