Abraaj news

Abraaj Group is a private equity firm that focuses on investing in emerging markets, particularly in the Middle East, North Africa, and South Asia. Here are some recent news articles and updates about Abraaj Group:

  1. Abraaj Group's Founder Arrested: In June 2018, Abraaj Group's founder and CEO, Arif Naqvi, was arrested in the United States on charges of wire fraud and securities fraud. The charges relate to allegations that Naqvi misused funds from Abraaj's healthcare fund to pay for personal expenses and lavish lifestyle. (Source: Bloomberg)
  2. Abraaj Group's Collapse: In June 2018, Abraaj Group announced that it was winding down its operations and returning capital to investors after a series of financial difficulties. The firm had faced allegations of mismanagement and misuse of funds, leading to a loss of investor confidence. (Source: Financial Times)
  3. Abraaj Group's Assets Sold Off: In an effort to pay back investors and creditors, Abraaj Group has been selling off its assets, including its stake in the Pakistani healthcare company, Medanta. The sale of Medanta was reportedly worth around $100 million. (Source: The Express Tribune)
  4. Abraaj Group's Founder Pleads Not Guilty: In August 2019, Arif Naqvi pleaded not guilty to the charges of wire fraud and securities fraud brought against him in the United States. Naqvi's lawyers have argued that the allegations against him are baseless and that he is innocent. (Source: Reuters)
  5. Abraaj Group's Investors Seek Compensation: Many investors who invested in Abraaj Group's funds are seeking compensation for their losses. In July 2019, a group of investors filed a lawsuit against Abraaj Group and its founder, alleging that they had been misled about the firm's financial health and investment returns. (Source: The Wall Street Journal)
  6. Abraaj Group's Legacy: Despite its collapse, Abraaj Group's legacy in the private equity industry is still being felt. The firm was known for its innovative approach to investing in emerging markets and its focus on healthcare and education. Many industry experts believe that Abraaj Group's collapse was a result of a combination of factors, including poor governance and a lack of transparency. (Source: Forbes)

These are just a few of the recent news articles and updates about Abraaj Group. The firm's collapse and the subsequent legal proceedings have been widely reported in the financial press.