Dubai boss charged with bribing Nakheel exec in police sting operation

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A businessman has been accused of offering a AED500,000 ($136,132) bribe to a Nakheel executive to cancel AED3.7m ($1m) in fines imposed by the Dubai developer against his company, a court heard.

The 32-year-old Iranian national is said to have accumulated the fines over deals on three plots of land in the Jumeirah Village Project, local media reported.

It was part of a reported AED11.5m ($3.13m) in late payments being demanded by Nakheel to various investors.

Prosecutors allege that after requesting a meeting with a Nakheel executive to discuss the matter, the defendant offered to pay him AED200,000 ($54,453) to cancel the fines.

However, the Dubai Court of First Instance heard that Nakheel informed authorities and then pretended to accept the bribe - bargaining with him to increase the offer to AED500,000 ($136,132) -  in what became a police sting operation.

The defendant, who has pleaded not guilty, was arrested when he allegedly handed over AED400,000 ($108,906) in a bag in a hotel lobby on June 10.

The court has been provided with voice recordings to be used as evidence to back up the charge of bribing a public employee during the trial.

The defendant has denied offering money during the meeting with the Nakheel executive.

The case was adjourned to December 18.

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Posted by: Red Snappa

Mmm.... so the recovery in the secondary developer layer, is not quite as robust as it would seem, on the basis thartthere are still people out there who cannot afford the back payments, inflated by fines.

Logically from Nakheel's perspective it's better to receive the $3.13 million in late payments than AED 500K, undoubtedly, the independent auditors might prove a tad curious about the fines write off!

On the other hand, if your man is found guilty and goes to jail, then they'll receive zero.

However, as Nakheel is now wholly-owned by the Dubai government, he would have been attempting to bribe someone in public office, unless proved innocent.

Another stain on the property sector, perchance?

Posted by: Aziz

@Niko, what planet do you come from?

Posted by: Ree

@Niko that would be to the company that you would make an arrangement where they agree not to an individual to do a private deal (whereby that person keeps the money) defrauding the company of money.

Posted by: niko

Nakhil is a private company not Government, so you can not call it bribe in the definition, I call this an internal aggrement, I have properities, many times, I talk to companies, to wave the late payment fees, and fines, if we pay the money in advance, and they sometimes accept it and wave the penalties, I accept his approach was not nice, the bribee must be punished more than bribe payer

Posted by: Omar Abdulwahab

Niko you make no sense at all!

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