Friday, 14 June 2019

Three #Abraaj Executives Charged in U.S. Fraud Investigation - Bloomberg

Three Abraaj Executives Charged in U.S. Fraud Investigation - Bloomberg:

Three additional former executives of The Abraaj Group were charged in New York in a fraud investigation into the firm’s collapse last year that was the world’s biggest private-equity insolvency.

Former Chief Financial Officer Ashish Dave, former Managing Director Rafique Lakhani and former Managing Director Waqar Siddique were charged with multiple counts including fraud and conspiracy, in an indictment unsealed Thursday.

James Margolin, a spokesman for Manhattan U.S. Attorney Geoffrey Berman, declined to say whether any of the men are in custody.

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