Former Drake and Scull CEO Khaldoun Al Tabari has hit back at claim that he and his daughter posses the company as much as AED1 billion ($272.3 million) and has vowed to begin libel assert against “unfounded news” made against him.
In a statement sent to Arabian Business, Al Tabari told that he disproves, “in the strongest terms any suggestion that I or my daughter owe Drake & Scull International PJSC (DSI) any money at all, let alone the huge sums mentioned by some media outlets, and any suggestion that the previous management of DSI was guilty of any wrongdoing, impropriety, negligence or incompetence.”
Al Tabari said that he and his daughter, “acted at all times in accordance with all legal, regulatory and governance obligations, and in the interests of the company, its employees and its shareholders.”
In addition, Al Tabari told he was prepared to begin libel claims against “news reports based on such falsehoods” that could cause irreversible reputational damage to him or his daughter.
He also said, “Any attempt to discredit or defame us will be taken seriously and is likely to have legal consequence,” he said.
In the statement, Al Tabari categorically denied that any claims have been made against him, and said he was “given no opportunity to respond to the supposed internal investigation by DSI.”
Al Tabari also answered to a statement made by DSI to the Dubai Financial Market, which purported to confirm “material financial violations from the previous management”.
He said, “No such allegations have been put to me.”
He again added, “It saddens me that such unfounded allegations are raised against me by a company that I set up in the UAE more than 20 years ago.”
Al Tabari stepped down as CEO in October 2016, sold his stake in the firm and resigned as a board member. The statement included that all financial dealings of DSI are audited by company like Ernst & Young and PwC, which are approved by the board.
He said, “In this context, it comes as a surprise that such baseless allegations are raised now, nearly two years after I have stepped down from my position.”
Follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, for all the latest banking and finance news from the UAE and Gulf countries which is updated every day.
more recommended stories
A five-star waterfront branded residence development at Dubai Creek Harbour
A five-star waterfront branded residence development,.
Sean Connolly is set to depart Dubai Opera restaurant
Sean Connolly is set to leave.
Dubai-based broadcaster MBC Group has planned to organize its digital administrations with an investment strategy
Dubai-based broadcaster MBC Group has confirmed.
Saudi Aramco-branded service stations, probably arrives at an accelerated pace
As indicated by an organization statement,.