Mar 24, 2010
Ex-DIFC chief Sulaiman held in fraud probe
Omar bin Sulaiman, once a key lieutenant of Dubai's ruler Sheik Mohammed bin Rashid Al Maktoum, has been held by authorities for a week, the persons who declined to be identified said. No charges have been made at this point and the investigation has yet to be referred to prosecutors, the persons added.
The investigation is currently being handled by state security, which essentially acts as the sheikdom's secret service, due to the political sensitivity of the allegations and the high-profile of Bin Sulaiman in the emirate, one of the persons said.
A spokesperson for the DIFC declined to comment on the matter when called, as did public prosecution officials in Dubai. Ahmed Al Shaikh, the official spokesman for Dubai government was unreachable and didn't respond to messages.
Calls to Bin Sulaiman's phone weren't answered.
Bin Sulaiman was removed from office in November last year and replaced by Ahmed Humaid al-Tayer. No reason was given for his replacement in a statement sent from Sheik Mohammed's office.
Dubai-based paper Gulf News reported earlier Wednesday that a former high-profile DIFC official identified by the initials O.S. was being held by authorities and investigated for allegedly abusing his post as a public official and "financial irregularities" amounting to about 50 million U.A.E. dirham ($13.6 million).
Bin Sulaiman is the latest high-ranking former official to be hauled in for questioning since Dubai's government launched a wide reaching crackdown on alleged corporate crime in the city-state over two years ago.
He was instrumental in early moves last year by Dubai to tackle its estimated $100 billion mountain of debt along with Nasser Al Shaikh, who was replaced at the beginning of last summer as head of its department of finance.
Both men were closely involved with setting up a $20 billion emergency bond program that gained support of the Abu Dhabi-based Central Bank of the United Arab Emirates.
Established in 2004, the DIFC was intended as a landmark project to turn Dubai into a major international hub for banks and finance to rival New York, London and Hong Kong.
Before taking over at the DIFC, Bin Sulaiman had overseen the creation of Dubai Internet City, a business park set up to information technology companies.
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