Pilot training school ‘made no money’

A pilot training school set up by an arms dealer and the Gulf state suing him for fraud produced ‘no revenue’, the High Court heard today (mon). Iranian American aviation executive Farhad Azima, 78, has been accused of a $2billion fraud by 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 of US Dollars 1.5…