#fraud

UAE launches ‘major investigation’ into Dubai developer Union Properties

The Public Prosecution is investigating allegations of financial violations committed by chairman Khalifa Hassan Al Hammadi as well as other senior executives

The role of auditors in fighting fraud

In the Middle East, issues relating to fraud and corruption are of concern because of the lack of anti-fraud legislation in place

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Abu Dhabi court imposes hefty fines, jail terms on 40 people, 8 companies for money laundering

The accused are charged with creating a fraudulent digital platform through which they engaged in illegal economic activities

Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine

Abraaj, which was headed by financier Arif Naqvi, went into liquidation in 2018

Abu Dhabi court fines four people, jewellery firm Dhs90m for money laundering, fraud

Each of the four defendants has been handed a five-year imprisonment term followed by deportation and a fine of Dhs10m

UK court orders asset freeze of NMC founder BR Shetty, other company executives

The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank

Dr B.R. Shetty, Founder and Co-Chairman of Finablr, at the London Stock Exchange[2] copy

BR Shetty plans ‘imminent’ return to the UAE to support investigation into NMC

The NMC Health founder denies wrongdoing and says he has “complete faith in the justice system of the UAE”

Finablr founder Shetty resigns as Indian court closes net on NMC Health

Finablr and NMC Health were both listed on the London Stock Exchange before being suspended

NMC administrators start selling its assets to pay the UAE hospital operator’s creditors

The moves mark the official beginning of the dismantling of NMC, which once had a market value of up to $11bn

NMC controversy: Founder BR Shetty issues first public statement, denies wrongdoing

Shetty claimed he was also a victim of fraud and put the blame on a “small group of current and former executives”