A former senior executive of Dubai-based GFH Capital has been arrested in Dubai and charged on suspicion of fraud, embezzlement and money laundering.
David Haigh, who was a key player in the company's takeover of English football club Leeds United in 2012, and was deputy CEO at GFH Capital, has reportedly been detained for three days.
A statement released by GFH Capital on Wednesday read: "GFH Capital understands that a former employee has been arrested in Dubai and charged on suspicion of fraud, embezzlement and money laundering while he was employed at the bank.
"We are unable to provide any further details at this stage while the case is being considered by the authorities."
The former Leeds United managing director, who denies all claims against him, was detained by police shortly after arriving at the offices of GFH, the UK's Yorkshire Post reported.
It said many of the allegations against Haigh relate to GFH’s time as owner of Leeds United and the recent sale of the Championship side to Italian Massimo Cellino.
Haigh was one of the men behind GFH’s purchase of Leeds from Ken Bates in December 2012.
He became a club director and later took up the job of managing director at Elland Road in July 2013.
He resigned from his job at GFH Capital in February after Cellino bought a 75 percent stake in the club.
Haigh recently stated on Twitter that he planned to stage a series of media interviews to give his version of GFH’s turbulent spell as owner at Elland Road.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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