"A Dubai bank is instrumental in the long-running detention of the 71-year-old British businessman Ryan Cornelius who is serving a 30-year sentence that will keep him in jail until he is 84, his brother-in-law claims. Recent accounts show the Dubai Islamic Bank (DIB), which claims to be the trailblazer in championing Islamic values in banking, is on course to make more than $2bn in profit this year."
"Cornelius was detained in 2008, and convicted with three others of defrauding the bank in 2011. He has already served 17 years but his sentence in 2018 was extended at the request of the bank for a further 20 years, according to information given to a UN working party on arbitrary detention, meaning he will not be released until 2038 when he will be 84 years old."
"He was accused of failing to keep up payments to the bank over a loan to fund a business deal, a charge he denies, and was required by a Dubai court to pay $432m. DIB brought proceedings to recover the loan using a law which extends prison sentences for convicts who fail to return proceeds of fraud. Cornelius's wife, Heather, is in effect homeless and he has no means of raising the sums required to secure his release."
Ryan Cornelius, 71, was detained in Dubai in 2008 and convicted of defrauding Dubai Islamic Bank in 2011. A Dubai court ordered him to pay $432m and DIB used a law allowing extended sentences for failure to return fraud proceeds to recover the loan. After serving 17 years, his sentence was extended in 2018 at the bank’s request by 20 years, keeping him imprisoned until 2038 at age 84. DIB is on course to make more than $2bn profit this year. The bank seized all his assets, including the Plantation land (now the Acres) valued at over $3bn after development. His wife is effectively homeless and he lacks means to secure release.
Read at www.theguardian.com
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