x Abu Dhabi, UAEThursday 27 July 2017

Former Deyaar chief executive's bail to be secured by Emirati friend

An Emirati friend of Zack Shahin has agreed to guarantee his presence in Dubai and both will surrender their passports to the authorities.

Zack Shahin, the former Deyaar chief executive charged with misusing his powers and approving bids in return for millions of dirhams, may be released on bail by July 10 after securing the Dh5 million needed as a guarantee, his US-based lawyer told Bloomberg News.

Eric Akers said an Emirati friend of Shahin, who is an American citizen, agreed to guarantee his presence in Dubai and both would surrender their passports to the authorities.

The bail amount was being deposited at the court, the lawyer said. Shahin has been awaiting trial since March 2008.

newsdesk@thenational.ae