Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Leeds United?s ex-MD held for Dh23.7 million fraud in a Dubai firm  Join our daily free Newsletter

MENAFN - Khaleej Times - 23/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The company discovered the legal irregularities committed by haigh when it conducted its annual internal accounting audit.

the dubai police have arrested david lawrence haigh former deputy chief executive and legal consultant of private equity group gfh capital limited on charge of breach of trust and referred him to the public prosecution for trial reports wam.

gfh capital a dubai international financial centre-based company had filed a lawsuit against haigh who is also former managing director of english foot-ball club leeds united for embezzling dh23.7 million.

the company discovered the legal irregularities committed by haigh when it conducted its annual internal accounting audit.

bbc said gfh claims the alleged wrongdoing is directly connected to the equity group’s ownership and subsequent sale of leeds to italian massimo cellino.

according to uk press reports 36-year-old haigh was one of the men behind gfh’s purchase of leeds from ken bates in december 2012.

the reports said he resigned from his job at gfh capital in february with cellino closing in on a 75 per cent takeover of leeds and was due to become the club’s chief executive when the italian businessman’s takeover went through in april.

but his relationship with cellino deteriorated rapidly and he resigned from his position as managing director quitting the club within a week of cellino finalising his takeover on april 7.

the reports quoted a british foreign office spokesman as saying: “we are aware of the arrest of a british national in dubai on 18 may 2014. we are providing consular assistance.” the yorkshire evening post quoted gfh capital as saying in a statement: “gfh capital understands that a former employee has been arrested in dubai and charged on suspicion of fraud embezzlement and money laundering while he was employed at the bank.

“we are unable to provide any further details at this stage while the case is being considered by the authorities.” the paper also quoted a friend of haigh’s as saying: “david has done nothing wrong or illegal. he’s appalled to find himself in this position.”

“however a someone who knows dubai well and respects its institutions he’s confident that the authorities will see these allegations for what they really are and clear him of any wrong-doing” the friend told the yorkshire evening post.

news?khaleejtimes.com


 






  MENA News Headlines
 Sep 1 2014 - Qatar- Summary of Local News Released SundayQatar News Agency
(MENAFN - QNA) A summary of local news released Sunday by Qatar News Agency. - HH the Emir Sheikh Tamim bin Hamad Al-Thani sent on Sunday a cable of congratulations to Peresident of Kyrgyzstan ...

 Sep 1 2014 - China to become GCC's biggest oil importerMENAFN
(MENAFN) China is set to depend heavily on the capacity of the Gulf Cooperation Council (GCC) to provide a stable flow of oil for the next ten years, Saudi Gazette reported.The deal earlier announced ...

 Sep 1 2014 - Kazakhstan to boost bilateral ties with OmanMENAFN
(MENAFN) Kazakhstan expressed its aims to boost bilateral relations with Oman with increased diplomatic visits and trade relations, Oman Observer reported.The Sultanate has contributed to ...

 Sep 1 2014 - Qatar- Summary of Local News Released Sunday - 1-Qatar News Agency
(MENAFN - QNA) - The Qatar Philharmonic Orchestra will travel to the Royal Albert Hall in London next month to perform at the BBC Proms. The orchestra will perform the music of Sergei Rachmaninoff, ...

 Sep 1 2014 - 'City of Light' could recapture an intellectual leadership roleArab News
(MENAFN - Arab News) The holy city of Madinah has found a special place in World Economic Forum's report of the global agenda council on competitiveness.The report titled 'The Competitiveness of ...

 Sep 1 2014 - Final agreement for USD2b Omagine project near signingMENAFN
(MENAFN) A final agreement regarding the establishment of the Omagine real estate, tourism and entertainment project, which would cost USD2 billion and planned to be near Muscat International ...

 Sep 1 2014 - Global PTFE Market to Reach USD 6,440.0 Million by 2020MENAFN Press
(MENAFN Press) Global PTFE sales were estimated at USD 3,465.0 million in 2012, and are expected to reach USD 6,440.0 million by 2020, growing at a CAGR of 8.1% from 2013 to 2020, according to new ...

 Sep 1 2014 - Dubai set to stage Gary Barlow show in OctoberKhaleej Times
(MENAFN - Khaleej Times) Why the news of one pop concert in Dubai has wider (and happier) implications according to Adam Zacharias And so it begins.Earlier this week on my drive to work I heard on ...

 Sep 1 2014 - UAE- I always turned up with a couple of tapes: DJ NazKhaleej Times
(MENAFN - Khaleej Times) DJ Naz resident spinner at Toro Toro in Grosvenor House Dubai tells us about his musical beginnings and why hed like to follow in the footsteps of Ibn Battuta DJ style: ...

 Sep 1 2014 - UAE- Western Sydney Wanderers to feature in Al Jaziras IPIC CupKhaleej Times
(MENAFN - Khaleej Times) Western Sydney Wanderers who saw the back of last years champions Guangzhou Evergrande are set to touchdown in Dubai on Sunday.Ammar Bashir and Ali Al Nuaimi addressing the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help