From Iceland — Icelander Involved In Dubai Yacht Scandal

Icelander Involved In Dubai Yacht Scandal

Published August 28, 2012

An Icelandic yacht maker is finding himself the subject of a forgery investigation after himself claiming to be the victim of a legal dispute.
According to the UAE news website The National, the Icelander in question had hoped to start his own yachting company. An Emirati had approached him, offering to sponsor the company if he built him a yacht first. The Icelander complied, but no documents to begin sponsorship ever came.
And then things took an unexpected turn:

In 2010, the yacht maker lodged a lawsuit against the Emirati in an Abu Dhabi court for refusing the return the yacht after reneging on his promise to sponsor the company.
The court ordered the Emirati to pay the yacht maker Dh4m [about 130 million ISK]. But after the verdict, the yacht maker was charged with forging an official document he was alleged to have used in the court battle.
It was not clear what the document was, but the yacht maker denied the charge in court yesterday.

The Icelander is free on bail, having paid the 2 million ISK bond and surrendered his passport. The case is set to resume September 29.

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