UAE firm sues MD over bonuses

DUBAI – Dubai International Finance Centre Investments (DIFCI) is suing a former managing director, Bisher Barazi, to recover $1.2 million in “unlawful” bonuses, according to reports.

Court papers filed by DFICI claim Barazi stated DIFCI’s income for 2007 was $16.3 million, when the group had actually lost $21.7 million. In doing so, he sought to justify large bonuses for himself and the former governor of the bank, Omar bin Sulaiman.

Sulaiman was previously detained in March on embezzlement

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