Arms dealer’s hotel payday

An arms dealer being sued for fraud by a Gulf state forged a document to give himself a $1.5 (£1.15m) million payment following a hotel sale, the High Court heard. Iranian American aviation executive Farhad Azima, 78, has been accused of misleading the Gulf state of Ras-al-Khaimah (RAK). The Emirate claims he colluded with Dr Khater Massaad, the former chief executive of the state’s investment body, RAKIA. Dr Massaad was convicted of global embezzlement and mismanagement during his tenure as…