BTA2023 A Dubai court has sentenced Nigerian billionaire Abdulrahman Bashar, owner of Rahmaniya Group and Ultimate Oil & Gas, to one year in prison for financial misconduct involving CI Energy Company.
Bashar was convicted for issuing seven cheques worth 126.45 million dirhams from an Emirates Islamic Bank account with a mismatched signature, preventing their cashing. The court found sufficient evidence against him, including statements from CI Energy’s agent, cheque duplicates, and bank statements.
This marks Bashar’s second jail sentence in less than five years. In 2020, a UK court sentenced him to ten months for flouting court orders in a case involving Sahara Energy Resources, where he failed to release 6,400.49 metric tonnes of gas oil as ordered. The Dubai court also referred a civil compensation case against him to a specialized court for further investigation.
