{{Short description|British property developer}} {{Infobox person | name = Ryan Cornelius | birth_name = Ryan Cornelius | occupation = Property developer | known_for = Dubai Islamic Bank fraud case | criminal_charge = Fraud | criminal_penalty = Prison sentence | disappeared_status = Incarcerated }}
'''Ryan Cornelius''' is a British property developer who became the subject of international attention following his conviction in the United Arab Emirates for fraud related to real estate financing. He was convicted in 2010 of defrauding Dubai Islamic Bank (DIB) in connection with a property development transaction during Dubai’s pre-2008 real estate boom.
==Legal case==
In 2010, Cornelius was sentenced by a Dubai court to ten years’ imprisonment after being found guilty of fraud involving loans provided by Dubai Islamic Bank for a property development project. The case arose from a cheque-based financing arrangement, a common practice in the UAE at the time, under which post-dated cheques were used as security for real estate loans.<ref>{{Cite news|url=https://www.smh.com.au/business/paradise-lost-for-jailed-dubai-expats-20100812-120yc.html|title=Paradise lost for jailed Dubai expats|date=August 12, 2010|website=The Sydney Morning Herald}}</ref>
In 2018, following the completion of the initial sentence, Cornelius remained detained after the Dubai courts imposed an additional sentence linked to the outstanding civil liability, reported to be approximately US$430 million. Under UAE law, imprisonment may be extended in cases involving unpaid debts supported by criminal judgments, particularly where dishonoured cheques are involved.<ref>{{Cite news|url=https://www.ft.com/content/0fd06998-f3c2-11e8-9623-d7f9881e729f|title=Family of UK businessman jailed in Dubai pleads with Foreign Office|first=Simeon|last=Kerr|newspaper=Financial Times|date=November 30, 2018|url-access=subscription}}</ref>
==See also== * Dubai Islamic Bank
==References== {{reflist}}
{{DEFAULTSORT:Cornelius, Ryan}} Category:Living people Category:British people convicted of fraud Category:British expatriates in the United Arab Emirates Category:Year of birth missing (living people) Category:Place of birth missing (living people)