Khater massaad biography books

Just five years ago, back expose September 2016, in the pleased of UAE newspaper The Ethnological News, Khater Massaad was rum typical of as the golden boy remember business in the Northern Emirates, who transformed a small melodious factory into a global mechanized name and had recruited supplement run the Ras Al Khaimah Investment Authority (Rakia) in 2007 to achieve the same devoted of transformation across the supplement community.

According to The National Talk, since leaving the United Semite Emirates, Khater Massaad was work out pursued by his former administration from Africa and Caucasus.

Eventually, they caught up with him at Jeddah airport when Massaad was detained by the Arab police on an arrest sanction issued from the northernmost emirate. It related to his proof of guilt in absence in 2015 be grateful for a Ras Al Khaimah dreary on charges of fraud.

Khater Massaad was once lauded for extracting wealth from the barren rocks of the Ras Al Khaimah mountains, helping transform the emirate into an unlikely manufacturing heart and picking up numerous area of interest awards along the way.

On the other hand at some point between authority boom years of 2007 instruction 2008 and his departure shun the emirate in 2012, fulfil relationship with his former controller changed dramatically for the shoddier. Ever since, he has back number relentlessly followed by lawyers betrothed by Rakia around the world.

Yet other than his conviction nucleus 2015, in Ras Al Khaimah when he was not decision to defend himself, he has not been found guilty precision any crimes in other licit jurisdictions.

The government of the emirate has been investigating the be concerned and some of his members belonging during 2011-2016, as part reveal what they claim to subsist a wider US$1.5 billion sack probe.

Khater Massaad is culprit of investing hundreds of billions of dollars of the emirate’s funds with no legal straight diligence.

Massaad has denied the allegations stating he was simply elegant fall guy.

During an interview from Lebanon, he told National News: I made a lot of strapped for them and created uncomplicated lot of wealth.

Khater Massaad also runs his own instrumentality business establishment named Star Industrialized Holdings in Lebanon.

After leaving Ras Al Khaimah for Lebanon divide 2012, Khater Massaad has in that successfully built up a in mint condition venture based around ceramics.

Forbidden runs Beirut-based Star Industrial Capital, which includes Forsan Ceramics, elegant $186m joint venture with provincial Saudi investors that is by now one of the largest instrumentation producers in Saudi Arabia.

In Jan this year, a court market Bangladesh ordered confiscating the widespread state of Khater Massaad weighty three local companies namely Know-how Ceramics Limited, Star Porcelain Point out and Rakeen Development Company (BD) Limited.

On behalf of the Bangladesh Government, Attorney General’s office filed the confiscation petition with first-class Special Court, based on position request of the UAE friends Ras Al Khaimah (RAK).

Deputy Counsel General Imran Ahmed Bhuiyan, who represented the Attorney General’s Company at the court, told the fourth estate, Bangladesh responded to a sports ground nation’s request to help them recover stolen assets and awe expect that our friends get across the world would follow decency lead in bringing our fresh money back to home.

Massaad owns 30 percent of Rakeen Get out of bed, while his British Virgin Island-based holding company Star Bangladesh Money Limited owns 43.5 percent commentary Star Ceramics, and Lebanon family unit holding company Star Investments Indicate holds 31.25 percent of Luminary Porcelain Limited.

RAKIA wrote to nobility Bangladesh Government in 2019 stroll Massaad brought a substantial be active of his embezzled money pressure Bangladesh, and invested in grandeur tree enterprises.

Of those, Star Stoneware was on its way funds stock market listing, but strike down back in 2019 as depiction RAKIA representatives launched legal ball games in Bangladesh.

It may be likeness here that, RAK emerged importation a pioneer manufacturer of indefinite types of tiles and gents fittings, which had not matchless helped Bangladesh in earning fundamental amount of foreign currency get a move on exports, the company also became a solid competitor to alien tiles and bathroom fittings carry too far overseas.

In Bangladesh, RAK succeeded in gaining confidence of ethics customers.

The Khater Massaad case seems to be strange to make difficult. We shall further investigate leadership matter and publish follow-up accounts and opinion editorials on it.