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Corrupt bosses jailed for Dh10.5m bribe
The underhand tactics of two bosses at an Insurance company in the Capital has seen them land a jail term as well as a hefty fine of Dh10,540,880 each – the total amount they tried to bribe an employee with.
Abu Dhabi Criminal Court has sentenced the CEO and the former director general of the Insurance company’s branch in Abu Dhabi to three years in prison after they offered the multimillion dirham bribe to an employee of another company to help award their firm the insurance tenders.
The court also found the employee guilty of accepting and receiving the bribe against breaching his duties. He was sentenced to five years in jail and has to pay a fine equal to the amount of money he had received as a bribe.
Investigations confirmed that the employee received, in frequent payments during his employment, financial remittance orders approved by the two defendants, in contravention of the law, and deposited the amounts into several of his bank accounts and it appeared that the man left the country when he felt his illegal act was found out. The Financial Prosecution has referred the two bosses to stand trial after indicting them of offering the large cash bribe. — news@khaleejtimes.com
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