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Bail denied in Dubai Islamic bank fraud case

Posted on 12 August 2009

From Maktoob.com: A Dubai court has rejected bail for seven defendants in the 1.8-billion dirham ($490 million) Dubai Islamic Bank swindling case, UAE daily Emirates Business reported.

The investigation, one of the biggest fraud cases to rock the emirate, involves the accused seeking financing for transactions using fake companies and documents…………Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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