# Ryan Cornelius

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{{Short description|British property developer}}
{{Infobox person
| name               = Ryan Cornelius
| birth_name         = Ryan Cornelius
| occupation         = Property developer
| known_for          = [Dubai Islamic Bank fraud case](/source/Dubai_Islamic_Bank_fraud_case)
| criminal_charge    = [Fraud](/source/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](/source/United_Arab_Emirates) for fraud related to real estate financing. He was convicted in 2010 of defrauding [Dubai Islamic Bank](/source/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](/source/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](/source/Financial_Times)|date=November 30, 2018|url-access=subscription}}</ref>

==See also==
* [Dubai Islamic Bank](/source/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)

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Adapted from the Wikipedia article [Ryan Cornelius](https://en.wikipedia.org/wiki/Ryan_Cornelius) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Ryan_Cornelius?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.