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Wed 12 Nov 2014 07:12 PM

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Ex-Deyaar CEO sentenced to 10 yrs in jail

Developer who skipped bail in 2013 was accused of taking bribes from a contractor

Ex-Deyaar CEO sentenced to 10 yrs in jail
Zack Shahin, former CEO of real estate firm Deyaar.

Former CEO of Dubai developer Zack Shahin was sentenced to 10 years in jail for abusing his position, Gulf News reported on Wednesday.

The Dubai Appeal Court convicted 49-year-old American-Lebanese of taking bribes of up to AED20 million ($5.4 million) from Thermo, a Canadian construction company, so it could secure lucrative tenders with the developer.

In 2013, Shahin was sentenced to 15 years in jail, while three others were each given sentences of 10 years for their part in the tender scam.

In addition to the jail terms, Shahin and the three fellow defendants, who were not present and sentenced in absentia, were ordered to jointly pay a fine of AED30 million and repay the same amount.

Shahin’s original 15 year sentence was overturned in March and referred back to the courts.

Granted bail in 2013, Shahin fled the country but was later recaptured in Yemen.

The sentence can be appealed again for up to 30 days. The case is one of several against the former developer.

Arabian Business: why we're going behind a paywall

Azmi 5 years ago

i do not know what it takes to be in such circumstances..?! is it greed,habit or maybe a wrong understood concept of running a business by abusing authority and position and you think you can go with it.am glad that Dubai government is taking sever action

Steven 5 years ago

Dear Azmi, do you think this is some kind of strange anomaly that occured here in your beloved Dubai.
Please, tomorrow, do wake up and 'smell the coffee'!

Axeman 5 years ago

Surely he is Lebanese with an American passport!

Red Snappa 5 years ago

How long has he spent in jail already, presumably this reduced sentence is further reduced by time served to date, he must have already been incarcerated since at least 2008! However, the supposed 'other cases' will no doubt add more time. Anyway, the man is never going to be able to produce AED 30 million in anybody's wildest imagination, on the day he is released! Was he wrongfully convicted, "stitched up" as they say, his lawyers seem to believe so. He must have taken the oath to get a US passport, I'd be surprised if the CIA aren't involved somewhere along the line.

Doug 5 years ago

How do you work this one out? Because he wasn't born in the US? American citizenship can be earned, and once someone has earned it, they absolutely should be considered to be American.


Short way of earning money will end up like this..if you are caught

Make sure that you earn money in a sincere way..

Regards and the Best..