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Dubai regulator probes Abraaj over alleged mismanagement: Sources

The allegations triggered a solvency crisis at the fund

Reuters  |  Dubai 

Dubai's financial regulator is investigating allegations of mismanagement at private equity firm Abraaj, which is on the verge of financial collapse after a scandal over its use of investor money, two sources familiar with the matter said. The Dubai Financial Services Authority (DFSA) has interviewed the firm's founder, Arif Naqvi, and other senior executives in the past few months as part of the probe, the sources said. The DFSA declined to comment. Abraaj said in a statement discussions between it and the regulator were "ongoing." "The DFSA is kept ...

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First Published: Thu, July 05 2018. 00:39 IST