Global Arab Network | Bahrain: Arrest of Victor Dahdaleh – A sign of tenacity on anti-corruption

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Bahrain: Arrest of Victor Dahdaleh – A sign of tenacity on anti-corruption

Global Arab Network - - Gamal Ragay

Thursday, 27 October 2011 13:37

Global Arab Network - ‘Bahraini Anti-Corruption Movement,’ which operates under the umbrella of Bahrain Human Rights Watch Society BHRWS, has welcomed the arrest overseas, by Britain’s Serious Fraud Office (SFO), of businessman Victor Dahdaleh who was taken into custody and charged with corruption in relation to an ongoing lawsuit, filed by Aluminium Bahrain (Alba) nearly five years ago, Global Arab Network reports according to a press statement.

Mr Faisal Fullad, Secretary General of BHRWS said, “This is a landmark event in the history of anti-corruption in Bahrain and sends a clear message to all, that we will no longer tolerate any form of corruption. This hails the breakthrough of a new era of corporate transparency and accountability for all.”

He added, “Bahrain can only benefit from such action as it seeks to continue its progress in the business world in years to come and it is imperative this drive against corruption continues relentlessly.”

Mr Dahdaleh, a British-Canadian living in London, allegedly paid bribes to Alba officials related to contracts with US company Alcoa and others that resulted in substantial losses to Alba and its shareholders. Alba officials have said that they are seeking to recover the very large amounts of money that were unlawfully taken from the company as a result of these transactions.

According to the SFO, the contracts were for supplies of intermediate product alumina, shipped to Bahrain from Australia, and for the supply of further goods and services to Alcoa. Alba has already recovered more than $30 million (BD11.34m) from European companies involved.

Global Arab Network

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