News Column

Jailed banker in hospital

February 2, 2014

MANAMA : A Bahrain -based banker jailed in Dubai in connection with a $501 million fraud is seriously ill with stomach problems, the GDN has learned. Briton Charles Ridley has been taken to hospital after complaining of abdominal pain. "He was taken to a hospital in Dubai because of stomach complications," a well-placed source confirmed. No other details were available. Mr Ridley was among five investment bankers handed long prison sentences in April 2011 for defrauding Dubai Islamic Bank in connection with a loan. The defendants have always maintained their innocence and claimed the loan was paid in full when the bank foreclosed on Plantation Holdings , which was valued at more than $1 billion .

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Source: Gulf Daily News (Bahrain)

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