The chairman of Dubai Properties has been arrested on suspicion of acquiring illegal profits from property transactions.

The executive was taken in for questioning on October 19 by the newly formed Monetary and Public Funds prosecution, which is headed by the chief prosecutor Ismail Ali Madani, Dubai prosecution sources said.

“[The executive] is accused of abusing his position and earning millions in illegal profit,” Issam al Humaidan, Dubai’s Attorney General, told Bloomberg yesterday.

The National