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Jailed in Dubai, Accused Wait Long After the Good Times Have Disappeared

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-12-10 08:40 PM
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Jailed in Dubai, Accused Wait Long After the Good Times Have Disappeared
Aug. 11 (Bloomberg) -- Not long ago, British businessman Ryan Cornelius was living the high life, doing deals out of Bahrain and taking his family big-game fishing on his yacht and on safari in Kenya. Hes now into his third year in a Dubai jail cell, yet to be convicted of anything.

The worst aspect of the way weve been treated is the fact that the legal system seems to be so suspended in its own inefficiency, he said from a pay phone at Dubais Central Prison. We just dont seem to move forward. The whole legal system seems to hold you in a state of constant suspension.

Cornelius, 56, and six co-defendants have been charged with defrauding Dubai Islamic Bank PJSC of $501 million, one of the largest such cases in the history of United Arab Emirates. He says he did nothing wrong, and like others, foreigners and nationals, who profited in Dubai in the boom times, he waits in prison as the legal system slowly tries to separate the guilty from the innocent of those arrested in an anti-corruption drive.

Dubais image as the Singapore of the Middle East, a global hub for finance and tourism, is being tested as it tries to clamp down on excesses such as fraud and overdevelopment, which came with an explosion of people and investment. Its judicial system still often has more in common with its regional neighbors than the Western nations that it aspires to emulate, say lawyers and economists who work there. ..........(more)

The complete piece is at: http://noir.bloomberg.com/apps/news?pid=20601109&sid=aX...



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