Dubai Financial Regulator to Focus on Abraaj Management in Probe - Bloomberg:
The Dubai Financial Services Authority said its investigation into the collapsed Abraaj Group is focusing on the buyout firm’s senior management and people who failed to report irregularities.
“We will use all of our powers to deal with those who are found to be culpable,” the regulator said in its 2018 annual report published on Tuesday. “This investigation is highly complex, on a wide scale and is being pursued vigorously.”
Dubai-based Abraaj, which once managed about $14 billion, was forced into liquidation last year after being accused of mismanaging investor funds. Before that, it had been one of the world’s most influential emerging-market investors with stakes in health care, clean energy, lending and real estate across Africa, Asia, Latin America and Turkey.
No comments:
Post a Comment