Executives accused of allegedly causing deliberate loss of $11.98m to Nakheel
A Dubai court has asked the Public Funds Prosecution to probe un-investigated incidents relating to a graft case involving two Nakheel executives to after almost three years of proceedings.
The Australian suspects are accused of allegedly causing deliberate loss of $11.98m to the state-owned developer’s Dubai Waterfront project.
The project’s former executive director and the ex-operations manager have both denied the charges of abusing public office and intentionally causing loss and dispersing public funds.
Advocates who defended the two executives asked the court earlier to disregard the financial report submitted by the financial control department of the ruler’s court “because it was unsubstantiated and based on unfounded reports and calculations,” according to Gulf News.
“Nakheel did not incur any loss. Prosecutors based their accusation on unfounded and groundless evidence,” said advocate Ali Abdullah Al Shamsi who defended one of the executives.