Dubai – Mubasher: GFH Financial Group (GFH) on Sunday announced that the Dubai International Financial Courts (DIFC) had concluded its decision regarding the David Haigh case and ruled in the company’s favour.

The ruling is GFH’s in favour on all fronts against former employee David Haigh.

“The court has concluded that Mr. Haigh was guilty and his allegations against GFH were without substance,” GFH said in filing to the Dubai Financial Market (DFM), Boursa Kuwait, and Bahrain Bourse, where it is listed.

The court awarded GFH $5.140 million in the case, the bank said, highlighting that it can now begin “enforcement of this judgment on Mr. Haigh’s assets in Dubai and the UK.”

GFH expects this figure to be reflected in its financial results for the fiscal year 2018/2019.

GFH last reported a 14% year-on-year increase in profits to $36.48 million in the first three months of 2018.