Jordan's fat cat charged: Are Haitham Dahleh's nine lives up?
Today the Kingdom of Jordan learnt news of the latest entry to its so-called Corruption Files. Haitham Dahleh, Jordanian tycoon, joins the ranks of a ring of high level officials and business elite caught up in a crackdown on financial foul-play in the public arena.
Dahleh, a locally known business mogul, hailing from the Palestinian village of Tul Karam, has been ensnared by Jordan’s net of corruption allegations.
This infamous Jordanian tycoon co-founded the United Arab Investors, a holding company known to have misled investors through false tenders. The scam left those that came forward paying over the odds for start-up companies.
Dahleh and partner Marwan Jammous were syphoning off funds from these holdings for their private enterprise. The partners in crime have been under investigation by the Anti-Corruption Commission for some time.
A complaint against Dahleh and co was passed onto the Attorney General four months ago. Although the hearing has been active for two months already it was not until last night that the notorious duo arrested and formally charged.
Dahleh was held accountable on four accounts - bribery, profiteering, embezzlement, and fraud.
Given his track record of financial corruption, this news won't come as much of a shock to the general public who - in light of the crackdown -have antcipated his demise for some time.
Dahleh's capture, while still cast in conjecture, will be embarrassing for Jordan’s political elite given their close ties in the board room of the United Arab Investment Group.
Like other corruption cases in the Kingdom, this file raises more questions than answers, as the plot thickens.
What do you think about this latest arrest in Jordan's ongoing pursuit of its bad eggs? Why does Dahleh's arrest come only now? Is this a prelude to something bigger in the Kingdom?
- What's really holding Islamic Banking back?
- The rise of the Chinese renminbi: an unmatched opportunity for Qatar?
- Why, despite their emerging status upgrade, the UAE and Qatar still count as frontier markets
- How Egypt plans to deal with $20 billion worth of arbitration cases brought by foreign investors against it
- Business before wealth: what's really on the mind of the ME's high net worth business owners?
- Jordan: Tameer issues 53 million shares for private placement this year
- A brighter future? Jordan says it's winning the battle against corruption
- United Arab Investors acquires 10% of Optimiza shares
- Corruption case reported in Jordan Phosphate Mines Company
- Rise in level of corruption in three Arab states