NMC Health investigations now target 'financiers' who aided with multi-billion dollar fraud | Banking – Gulf News:
The investigations into NMC’s lost billions – upwards of $4 billion – have “identified a number of financiers” who colluded with the previous management in diverting bank funds. Detailed reports have been collected of evidence against all these bankers.
These financiers’ actions are to be “reviewed in detail” in a update on the investigations put by Alvarez and Marsal, the consultancy overseeing NMC’s administration as per a directive from ADGM (Abu Dhabi Global Market).
By end March, the administrators expect to complete all the process that would then set in motion the funds recovery and bringing the guilty to justice. Other “potential defendants” have been identified based on the evidence collected.
"Claims have been identified based on factual evidence, with assessment of merits - including legal merits - now in progress," the report notes. "Further work continues to progress rapidly to further evidence claims including asset assessments and potential quantum."
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