Fraudster ordered to pay £3.2m damages to Gulf state

An arms dealer who defrauded a Gulf State over an aviation venture has been ordered to pay more than £3.2million ($4million) in damages. Iranian American aviation executive Farhad Azima, 78, was 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 boss and jailed for 15 years in…