Friday, May 21, 2010

Dr. Omar Bin Sulaiman Freed After Repaying Dh51.5 Million in "Bonuses"

The National reports that Dr. Bin Sulaiman has been released after repaying Dh51.5 million in funds he was alleged to have misappropriated as bonuses during his tenure as head of the DIFC.  

As the article notes, the Dubai anti-corruption law provides an "out" if the funds are returned.  It's unclear if the return of funds constitutes an admission of guilt or is equivalent to a "nolo contendere" plea.

For more on this topic, you can check out Ken's post earlier this week at WallStWTF.    

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