The Dubai Islamic Bank (DIB) fraud case was a case originally brought in 2008 that involved the alleged embezzlement of 1.8 billion Dirhams (approximately US$501 million or £330 million) by a group of six (originally seven) bank executives and expat businessmen over the period 2004-2007.[1]
The case was the largest alleged fraud case in the history of Dubai, and the ten-year jail sentences passed on the alleged perpetrators of the scheme were also the longest that Dubai authorities have ever passed in a fraud case.[2] As of 2018, four of the alleged perpetrators remain in jail after having their sentences extended by another 20 years.[3]
^Kerr, Simeon (9 March 2009). "Seven charged over alleged $501m Dubai fraud". Financial Times. Retrieved 21 February 2021.
^Awad, Mustafa (27 April 2011). "Record 10-year sentences over Dh1.8bn DIB fraud case". The National. Retrieved 15 November 2019.
^Kerr, Simeon (30 November 2018). "Family of UK businessman jailed in Dubai pleads with Foreign Office". Financial Times. Retrieved 15 November 2019.
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