Zack Shahin (ZS), a US national and former CEO of property developer Deyaar, has been convicted of accepting a Dh20 million (over £3.5 million) bribe in return for awarding contracts to two other companies. He was also found guilty of dissipating bribes totalling approximately Dh30 million between 2004 and 2007.

ZS was sentenced to 15 years in prison by the Dubai Criminal Court while KM (a partner at Ambiance Technology) and FL and AS (both managers at Thermo) received ten years each for accepting Dh10 million in bribes with ZS' assistance. All four were jointly ordered to pay a fine of over Dh28 million to Deyaar.

Additionally, the two Thermo managers were found guilty of embezzling Dh500,000 and were each ordered to pay this sum to Deyaar. Deyaar awarded three contracts to Thermo throughout 2005 and 2006, one of which was for a tower in Business Bay worth Dh76 million. A project manager at Thermo testified that the company's executives were instructed not to deal directly with Deyaar and that the contracts were prepared and sent to ZS by FL and AS. Audits revealed that over Dh30 million was transferred to the two managers' private accounts.

ZS launched an appeal immediately after the verdict and the first appeal hearing is scheduled for 23 April 2013.