Abraaj senior executives held on US fraud charges | Financial Times:
Two senior Abraaj executives have been arrested in relation to US fraud charges that claim they defrauded investors by lying about the financial health of the collapsed Dubai-based private equity group.
Arif Naqvi, Abraaj’s founder and chief executive, and Mustafa Abdel-Wadood, a former managing partner at the group, have been charged with securities fraud, wire fraud and conspiracy, according to indictments filed by the US attorney’s office for the southern district of New York.
Andrea Griswold, assistant US attorney, said at a hearing in Manhattan federal court on Thursday that Mr Naqvi had been arrested in London and Mr Abdel-Wadood detained in New York, Reuters reported.
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