x Abu Dhabi, UAEWednesday 24 January 2018

DIC property swindler jailed and fined

A former DIC sales manager accused of making Dh17 million in illegal commissions was sentenced yesterday to three years in prison.

DUBAI // A former Dubai Industrial City (DIC) sales manager accused of charging clients almost Dh17 million in illegal commissions on the sale and lease of land at DIC, was sentenced yesterday to three years in prison, ordered to pay back the money, as well as pay a fine equivalent to that amount. The defendant, AZ, a 32-year-old Emirati, had pleaded not guilty to the charge on March 10 before the Dubai Criminal Court of First Instance. He was charged with misappropriating public funds. AZ is accused of charging eight clients extra commissions on a number of sale and rental agreements for land belonging to DIC, a member of Tatweer, Dubai's state-owned property developer. DIC was set up on 560 million sq ft of land to help spur industrial growth. The ruling is the first in a corruption case in Dubai's real estate sector. hbathish@thenational.ae