Dubai: Deyaar's American ex-CEO, Z.S., has won his first acquittal in a series of five corruption and graft cases since his referral to court in 2008.
The 48-year-old American-Lebanese was cleared on Wednesday of causing a deliberate loss in public funds [as Dubai Islamic Bank owns 41 per cent in Deyaar's shares] worth Dh1.2 million.
Since April 2008, Z.S. has been standing trial before the Dubai Court of First Instance, facing five different corruption cases in which he is charged of committing financial irregularities worth more than Dh350 million in total.
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