Two executives linked to a Malaysia wealth fund scandal were convicted of financial crimes and sentenced to prison in Abu Dhabi, the Wall Street Journal reported, citing people familiar with the matter.
Khadem al Qubaisi, who once headed Abu Dhabi’s International Petroleum Investment Co., was handed a 15-year prison sentence and Mohammed Badawy al Husseiny, a U.S. citizen who ran a subsidiary of IPIC, was sentenced to 10 years, according to the report. They jointly must pay about $336 million, the WSJ reported, cited a statement from the emirate’s court.
