Re: [PSUBS-MAILIST] Submarine fraudster gets five-year term, goes under the radar

[MerlinSub@t-online.de]

http://www.escapefromdubai.com/

VBR Carsten 



"Jay K. Jeffries" <bottomgun@mindspring.com> schrieb:
> Look like a previous visitor to our email list has run afoul of his Arab
> benefactors.  Wonder what happened to his subs?
> 
> R/Jay
> 
> Andros Is., Bahamas
> 
>  
> 
>  
> 
> Submarine fraudster gets five-year term, goes under the radar  
> 
>  
> 
> 
> By 
> 
>   
> 
> Mohammed Elsidafy  on Monday, June 29, 2009 
> 
> The former head of Dubai World's submarine unit was sentenced to five years
> in jail and fined Dh14 million for embezzlement in his absence yesterday.
> 
> HJP, from France, is on the run outside the UAE. He was convicted at Dubai
> Criminal Court of exploiting his position as manager of the Exomos division
> to embezzle Dh14m.
> 
> The court heard that HJP had told a Dubai World official that his company,
> Seahorse Submarines, could manufacture undersea craft for the group.
> 
> The official signed a contract for the purchase of two submarines and an
> advanced payment of Dh1.8m was made to the accused.
> 
> When HJP came to Dubai to complete work on the submarines, Dubai World set
> up Exomos and appointed the Frenchman as manager.
> 
> The accused bought equipment worth Dh11.8m for Exomos but the order did not
> arrive. HJP also accepted commission of Dh1.4m from companies dealing with
> Dubai World.
> 
> When the submarines were delivered they were incomplete. HJP then bought
> equipment for the vessels using Dh742,000 from Exomos's account.
> 
> The submarines were faulty and could not be used, and the accused gave a
> written confession to Dubai World and agreed to settle the matter by paying
> an initial Dh3m. But he then fled abroad.
> 
> Emirates Business has learned that Dubai Police plan to take action through
> Interpol to track him down.
> 
>  
> 
> 




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