Dubai World has filed a suit against former employee Herve Jaubert in the United States federal court, Southern Florida. The company is accusing him of fraud, theft and related charges linked to his time as CEO of Dubai World subsidiary Exomos, established in 2004 to design and make submarines.
The suit is in Florida because Mr. Jaubert chose to flee there from the UAE instead of signing an agreement he had made with Dubai World to repay money he stole from the company. "Dubai World is fully confident that the US court will come to the same conclusion as a Dubai court did in April 2009: that Mr. Jaubert misrepresented his ability to design and build submarines to obtain his position as CEO of Exomos, and then used that position to steal millions of dollars from Dubai World," a statement by the company said.
