Alsuwaidi bagged a second gold for the Emirates in the Adults Male -56 Kg category as Thailand topped the medal table on day one
sports2 hours ago
The Ras Al Khaimah Criminal Court has sentenced four top officials of the RAK Investment Authority to 10 years in jail, and ordered them to pay a hefty fine of Dh36 million.
The court, after extensive hearing sessions, found the four defendants, who hail from different countries, guilty of embezzling Dh36 million. It also ordered termination of their service.
The court records show that the four officials, including former CEO of the RAK Investment Authority, and CEO of the Rakeen Georgia - property developer in the emirate, had sold some shares of Rakeen Georgia and bought the shares of another company in violation of law.
They embezzled a big amount of money, according to the audit review of the company financial statement.
Investigations showed that the newly bought shares did not belong to the RAK Investment Authority, while the money collected from the shares sold were transferred to a company owned by one of the four officials.
The court earlier found the accused guilty in other cases involving embezzlement of US$1.5billion, intentionally causing damages to the money and interests of the authority they used to work for, Ras Al Khaimah Investment Authority. The convicts were ordered to serve different jail terms.
A court in Tbilisi, Georgia, also convicted the officials of fraud and ordered them to give back a 951-hectare plot of land to the authority.
ahmedshaaban@khaleejtimes.com
Alsuwaidi bagged a second gold for the Emirates in the Adults Male -56 Kg category as Thailand topped the medal table on day one
sports2 hours ago
Last month, Abu Sitta reported that he had been banned from Germany 'for the month of April', and accused the authorities there of stifling freedom of expression
world3 hours ago
Report reveals over 52% of people spend more than seven hours a day on internet
tech3 hours ago
Dubai-based Adrian Meronk is among a quartet of players tied in the runner-up spot as Smash GC leads Team Event by one shot
sports3 hours ago
The prospect of a large-scale invasion of Rafah, where around 1.2 million civilians are sheltering, has sparked intensifying global alarm
world3 hours ago
The festival saw the participation of 120 students in school theatre, Arabic calligraphy, and visual arts
uae3 hours ago
The PTI founder emphasised a deal is made by someone who wants to leave the country or avoid incarceration
asia4 hours ago
The ministry said later that Russian aircraft and air defence systems had downed a total of 15 ATACMS in the past week
world4 hours ago