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Insurance Company Referred to Court Over Bribe Payment

Insurance company taken to court by Abu Dhabi Finance Public Prosecution on charges of paying bribes and commission
Abu Dhabi: An insurance company has been referred to the criminal court on charges of paying bribes and commissions to an unlicensed broker,
According to the investigations, two defendants from the insurance company paid Dh10 million worth of bribes and commissions to the unlicensed broker, with the payments being made over time.
The two defendants, working as the insurance company’s Executive Director and General Manager, were found to have used the company’s system to carry out their schemes, putting down the commission payments as expenses. Both offenders from the insurance company were sentenced to three years’ imprisonment, as well as being handed a fine equal to the amount of bribes they paid.
The third defendant who received the illegal payments was charged in absentia, given a five-year jail sentence, followed by deportation, as well as having to pay a fine equal to the amount of bribes he received.
According to the case, though the defendants acted on their own illegally, the company bears responsibility due to both defendants working and representing the insurance company. As such both the company and the defendants will be prosecuted by the court.
The names and nationalities of the defendants have not been released by the court, nor the insurance company they worked for.