A Dubai regulator has fined Abraaj Group’s founder Arif Naqvi $135.5 million, saying he deceived investors and misused funds. The Dubai Financial Services Authority DFSA said CEO Arif Naqvi was issued the financial penalty “for serious failings.” The regulator also said it was fining former Abraaj senior manager and one-time Chief Operating Officer Waqar Siddique […]
Abraaj
Top Abraaj executives arrested on US fraud charges
The chief executive and a managing partner of the collapsed Dubai private equity firm Abraaj Capital Ltd. have been arrested on US charges that they defrauded their investors, including the Bill & Melinda Gates Foundation. Abraaj founder and Chief Executive Arif Naqvi was arrested in the United Kingdom last Friday, while managing partner Mustafa Abdel-Wadood […]