GFH Capital says arrest of ex-senior exec unrelated to Leeds Utd sale

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Arabian Business 26/5/14
GFH Capital Limited, the Dubai-based investment bank and fully owned subsidiary of Gulf Finance House, on Monday said the arrest of a former senior executive is unrelated to the firm's recent sale of a 75 percent stake in English football club Leeds United.
In a statement, the company confirmed that its former deputy CEO, David Haigh, has been arrested in Dubai as a result of allegations of serious fraud and embezzlement.
Jinesh Patel, GFH Capital’s SEO, said: “The issues that have been referred to the Dubai and UK authorities are unrelated to GFH Capital’s relationship with Mr Massimo Cellino, the new majority owner and fellow shareholder in Leeds United, or his purchase of a 75 percent stake in the club from GFH earlier this year.”
GFH Capital said Dubai Police's investigations are ongoing, adding that it was "not appropriate" to comment in any detail on their inquiries at the moment.

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