Dubai fraudster David Haigh bankrupt after losing $5 million case

Dubai fraudster David Haigh bankrupt after losing $5 million case

  DUBAI – Convicted fraudster David Haigh has declared bankruptcy after losing a legal battle where he sought to avoid refunding money that he swindled. Haigh, who led GFH Financial Group’s purchase of a 24 percent stake in English football club Leeds United, was convicted of breach of trust in 2015 following allegations that he diverted millions of funds into his bank account and his associates’ bank accounts using fake invoices. He was jailed and later deported to his home country where he tried to avoid refunding the money. England’s High Court in May ruled that GFH can pursue Haigh for $5 million in damages. The Dubai International Financial Centre Courts found Haigh also guilty of fraud after he used 100 fake invoices to make payments to at least four different bank accounts in Dubai, London and Manchester. Court records showed he illegally transferred to his own bank account the following sums: £2.039 million, Dh8.7 million and $50,000. He had claimed the money was his salary, fees and commissions. ICA/Expat Media

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