|By Arabian Post Staff| David Lawrence Haigh, former British deputy chief executive and legal consultant of GFH Capital Limited, whom Dubai Police had arrested in May 2014 on charges of treason and breach of trust, has been ordered to pay amounts of AED8.7, 2.03 million pounds and $50,000 for dishonesty and misappropriation of money.
Haigh was one of the men behind GFH’s purchase of Leeds from Ken Bates in December 2012. He left the club later. Haigh was arrested when he flew to Dubai after being offered a job by a bank.
The arrest followed a complaint lodged by GFH Capital, a Dubai International Financial Center-based company, alleging embezzlement of AED23.7 million. The company discovered the legal irregularities committed by Haigh when it conducted its annual internal accounting audit.
DIFC court judge Roger Giles, who gave the verdict, observed that Haigh acted dishonestly in misappropriating money belonging to to GFH Capital. But more than that, he sought to defend the claim against him with explanations which the judge considered to be lacking in credibility and a concoction.
The judge noed that Haigh had in the course of the proceedings brought applications and appeals with marked paucity of success and diversionary and collateral proceedings, while not engaging with the application for immediate judgement made in March 2015.
“In my opinion, his dishonest conduct and his conduct in relation to the claim brought against him was inappropriate and unreasonable, to the level of taking the case out of the norm and warranting an order for costs on the indemnity basis”, Justice Giles said.
GFH Capital is one of the Middle East’s foremost private equity investors, advisers and fund managers, providing capital and strategic support for companies.
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