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BAHRAIN: Ex-CEO sentenced

July 2012



The Criminal Court found former Bank Alkhair chief executive Majid al Refai guilty of embezzlement; misappropriating and squandering bank funds; destroying critical bank documents; and deliberately obstructing the bank’s shareholders and authorised entities from accessing bank records. Al Refai was sentenced to four years in prison, a statement from the bank, formerly known as Unicorn Investment Bank, said.

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