RPT-Dubai regulator probes Abraaj Capital, stops it from taking on new work | Reuters:
Dubai’s financial services regulator has stopped Abraaj Capital from taking on new business or moving money to Abraaj Investment Management (AIML), its related entity, as part of an investigation into the group.
“Given the onset of financial difficulties of the wider Abraaj Group, the DFSA has been closely monitoring the activities of its regulated entity ACL,” Dubai Financial Services Authority said in a statement on Thursday.
It is the first time that DFSA has said publicly it is investigating Abraaj, which faces allegations by some investors of misusing their money in a $1 billion healthcare fund.
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