No bail for accused in Dubai Islamic bank fraud case

Tuesday saw a rejection coming from a Dubai Court with regard to bail for seven defendants in the 1.8-billion dirham ($490 million) Dubai Islamic Bank swindling case.

The accused in the case were looking for financing for transactions using fake companies and documents. This is one of the biggest fraud cases, which has shaken the emirate. 

It should be noted that swindling, embezzlement and forging documents are the charges announced against the seven foreign nationals. While two of them worked for the bank, five are businessmen. 

Monday saw two British and two Pakistani defendants attending the latest Dubai Criminal Court hearing, in which bail was asked for by their lawyers. 

A U.S. citizen, a Briton and a Turkish national are the other defendants.
 

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