(MENAFN - Arab News) Dubai police have arrested david lawrence haigh a briton and former deputy chief executive and legal consultant of gfh capital limited on charges of treason and breach of trust.
dubai police referred him to the public prosecution for trial state news agency wam said.
gfh capital a dubai international financial center-based company has filed a lawsuit against david lawrence haigh for embezzling aed23.7 million.
he was until recently employed with gfh capital and the company discovered the legal irregularities committed by haigh when it conducted its annual internal accounting audit.
diplomatic sources said haigh 36 was being held in dubai since sunday.
haigh was one of the men behind gfh's purchase of leeds from ken bates in december 2012.
he left the club earlier this year.
a statement from gfh capital said: 'gfh capital understands 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 while the case is being considered."
sources said he was arrested when he flew to dubai after being offered a job by a bank.
gfh capital is one of the middle east's foremost private equity investors advisers and fund managers providing capital and strategic support for growth companies.