Deyaar CEO likely to be prosecuted

Zack Shahin, the former chief executive of real estate company Deyaar is likely to be prosecuted over fraud allegations. Current chairman Nasser Bin Hassan Al-Shaikh said the Dubai Public Prosecution was close to finalising its investigation. Shahin has been accused, along with two others, of embezzlement, and more arrests are thought likely. Deyaar is Dubai's third biggest real estate developer by market value and 41% owned by Dubai Islamic Bank.