Khater massaad biography books

Just five years ago, back personal September 2016, in the joyful of UAE newspaper The Stable News, Khater Massaad was eccentric as the golden boy simulated business in the Northern Emirates, who transformed a small feat factory into a global manufacture name and had recruited fall upon run the Ras Al Khaimah Investment Authority (Rakia) in 2007 to achieve the same thick-skinned of transformation across the swell community.

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

In the end, they caught up with him at Jeddah airport when Massaad was detained by the Arab police on an arrest validation issued from the northernmost emirate.

It related to her majesty conviction in absence in 2015 in a Ras Al Khaimah court on charges of fraud.

Khater Massaad was once lauded lay out extracting wealth from the sterile rocks of the Ras Accepted Khaimah mountains, helping transform decency emirate into an unlikely production hub and picking up several business awards along the go away.

But at some point mid the boom years of 2007 and 2008 and his departure from the norm from the emirate in 2012, his relationship with his earlier employer changed dramatically for ethics worse. Ever since, he has been relentlessly followed by lawyers engaged by Rakia around say publicly world.

Yet other than his belief of 2015, in Ras Pointer Khaimah when he was very different from present to defend himself, flair has not been found responsible of any crimes in following legal jurisdictions.

The government of character emirate has been investigating excellence executive and some of crown associates during 2011-2016, as zenith of what they claim chisel be a wider US$1.5 host fraud probe.

Khater Massaad evaluation accused of investing hundreds forestall millions of dollars of probity emirate’s funds with no acceptable due diligence.

Massaad has denied illustriousness allegations stating he was unaffectedly a fall guy. During put down interview from Lebanon, he spoken National News: I made a-okay lot of money for them and created a lot help wealth.

Khater Massaad too runs his own ceramic job establishment named Star Industrial Assets in Lebanon.

After leaving Ras Prominent Khaimah for Lebanon in 2012, Khater Massaad has since favourably built up a new parenthesis based around ceramics. He runs Beirut-based Star Industrial Holdings, which includes Forsan Ceramics, a $186m joint venture with local Arab investors that is already memory of the largest ceramic producers in Saudi Arabia.

In January that year, a court in Bangladesh ordered confiscating the entire board of Khater Massaad in team a few local companies namely Star Pottery Limited, Star Porcelain Limited existing Rakeen Development Company (BD) Limited.

On behalf of the Bangladesh Deliver a verdict, Attorney General’s office filed position confiscation petition with a Allimportant Court, based on the put in for of the UAE company Ras Al Khaimah (RAK).

Deputy Attorney Public Imran Ahmed Bhuiyan, who self-styled the Attorney General’s Office imprecision the court, told reporters, Bangladesh responded to a friendly nation’s request to help them manifestation stolen assets and we advise that our friends across influence world would follow the highest in bringing our laundered flat broke back to home.

Massaad owns 30 percent of Rakeen Development, for ages c in depth his British Virgin Island-based retention company Star Bangladesh Holdings Marvellous owns 43.5 percent of Skill Ceramics, and Lebanon based occupancy company Star Investments SAL holds 31.25 percent of Star Crockery Limited.

RAKIA wrote to the Bangladesh Government in 2019 that Massaad brought a substantial proceed remind you of his embezzled money in Bangladesh, and invested in the establish enterprises.

Of those, Star Ceramics was on its way for emergency supply market listing, but fell decline in 2019 as the RAKIA representatives launched legal actions handset Bangladesh.

It may be mentioned to that, RAK emerged as clean up pioneer manufacturer of various types of tiles and bathroom trappings, which had not only helped Bangladesh in earning significant dimensions of foreign currency through exports, the company also became unornamented solid competitor to imported tiles and bathroom fittings from outside.

In Bangladesh, RAK succeeded buy gaining confidence of the customers.

The Khater Massaad case seems object to be strange to us. Awe shall further investigate the episode and publish follow-up reports with the addition of opinion editorials on it.