Abu Dhabi, UAEMonday 6 July 2020

Drake & Scull files new criminal complaints against its former chief executive

The company is pursuing legal action against Khaldoun Tabari to get him extradited to the UAE following his arrest in Jordan

Khaldoun Tabari, the former CEO of Drake and Scull, denies all of the charges that have been filed against him. Ravindranath K / The National
Khaldoun Tabari, the former CEO of Drake and Scull, denies all of the charges that have been filed against him. Ravindranath K / The National

Dubai-based construction firm Drake & Scull International (DSI) filed new criminal complaints against its former chief executive Khaldoun Tabari, who was arrested in Jordan earlier this month.

The contractor is seeking Mr Tabari’s extradition to the UAE, it said in a statement on Wednesday.

Criminal complaints were filed against his daughter Zeina Tabari and other former executive managers with the Abu Dhabi Public Funds Prosecutor’s office, which is investigating the matter.

“Responding to 15 prior criminal complaints filed by DSI, the Abu Dhabi Public Funds Prosecutor has charged Khaldoun Tabari for misappropriation, fraud, embezzlement, intentional damage to public funds, profiteering others and forgery,” the company said.

Mr Tabari was arrested by the Jordanian authorities at Queen Alia International Airport in Amman under the Interpol red notice this month after the UAE authorities issued an international warrant against him.

The former executive led DSI before its initial public offering on the Dubai Financial Market in 2008, remained in charge until October 2016 when he stepped down and sold his stake in the firm.

He also resigned as a board member in February 2017 as the contractor underwent a share recapitalisation and financial restructuring that saw a further Dh500 million of equity investment made in the business.

The contractor, like its peers in the UAE, has struggled due to a softer property and construction sector in its home market. It posted a net loss of Dh4.5 billion for 2018, widening from Dh1.18bn in 2017.

Updated: January 29, 2020 04:58 PM

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