New Dubai Law on Financial Fraud - Big Fish in the Net as Well?

A follow-up to my earlier post of the day based on a Gulf News article.

The following quotes caught my eye and raise the hope that perhaps more than "SR the Canadian" may be visiting the Court.

1. Self-seeking individuals have caused serious damage to the national economy and affected the government by bringing heavy debt liabilities on public companies and exposing them to great losses, he [Ahmad Humaid Al Tayer, Governor of DIFC] added. "These people have amassed illegal wealth at the cost of public funds. The law has given them the option to amend their ways and hand over the public money they have embezzled through illegal means."
2. According to Al Tayer, there have been instances where corrupt officials established bogus businesses to conceal the money they had diverted from the government coffers.
3. "There is no one above the law. The law will have no exception and everyone who has embezzled government money will be punished severely," said Dahi.  [Lt. General Dahi Khalfan Tamim, Police Chief of Dubai]

As I've posted before, the sheer scale of the projects in Dubai afforded opportunities for massive commissions and other diversions of funds.   Up in Qatar, Philip Thorpe is probably too civilized to be saying "I told you so", but perhaps he's thinking it.  Remarkable that it took so long for this discovery to be made.  A rising tide not only lifts all boats but apparently closes a lot of eyes.

There will of course now be speculation about every senior level change in Dubai Inc - particularly those involving nationals.  Stay tuned.