A senior executive of Khoie Properties, the developer behind a Dh2 billion (US$545m) project on Ras al Khaimah’s man-made island of Al Marjan, has been sentenced to three years’ imprisonment for bouncing two cheques worth a total of Dh114m.

According to his lawyer, Ibrahim al Mulla, the convicted executive, who is already in jail, filed an appeal yesterday. A medical report dated June 9 states that the jailed executive suffers from serious heart problems.

La Hoya Bay is a mixed-use development on Al Marjan, a reclaimed island designed in a series of curves. The project was sold to about 800 investors, half of them from Britain, in 2007. The investors became anxious when little progress was recorded at the site.

The National