British millionaire detained in Dubai

Bahrain-based UK international banker Charles Ridley arrested, facing charges over investment funds.
British millionaire detained in Dubai
By Rob Corder
Thu 05 Jun 2008 11:58 AM

Bahrain-based British banker Charles Ridley has been detained by police in Dubai for almost a week, it has been revealed.

The British multi-millionaire met with British Consulate officials on Tuesday. An official later confirmed that Ridley was facing questions, but did not disclose the charges he was facing, Bahrain's Gulf Daily News reported on Thursday.

Ridley's arrest was believed to be related to investment funds which had put money into petro-chemical developments in Pakistan, the newspaper said, citing an unnamed source. It is believed a Dubai Islamic bank had also invested in the funds.

The newspaper also contacted Ridley's wife who confirmed that British Consulate officials were granted access to her husband. However Ridley is yet to receive access to his legal advisers.

It is believed Ridley's Bahrain-based business associate Rayan Cornelius has also been detained, the newspaper said.

Few details have emerged about Mr Ridley although he briefly made headlines in the UK in 2006 when he held a lavish 50th birthday party for his wife.

According to a report in Britain’s Sunday Telegraph newspaper, the rugby-loving banker paid for several world-class international rugby players, including at least two members of England’s World Cup winning squad, to fly to Kenya for the party.

A family friend at the time told the the UK's Sunday Telegraph Ridley had his "own parameters of fun, a different scale".

"He works hard, enjoys life, and pushing the boundaries, and has a significant sense of family and friends,” the friend said.

The friend told the newspaper Ridley enjoyed life in Bahrain, where he moored a $3.8 million cruiser at the yacht club.

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