Former GFH Capital deputy chief executive David Haigh is being sued for $5m by a subsidiary of Bahrain-based Gulf Finance House (GFH) has had his assets frozen by UK courts. Haigh is accused of a breach of contract and siphoning off funds ‘by creating or procuring the creation of false invoices’, Gulf Daily News reported. He allegedly misappropriated funds by forging and approving payment to at least four companies linked to accounts in his own name between April 2013 and March 2014, when he resigned. While legal authorities in Dubai are pursuing criminal charges against Mr Haigh, GFH Capital has filed a civil suit seeking $5m in damages, plus interest, costs and ‘other relief as the court thinks fit’ at the Dubai International Financial Centre Court of First Instance.
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