Abraaj Exec Cleared To Leave NY Jail With $10M Bail Deal

Law360, New York (April 29, 2019, 4:35 PM EDT) -- Abraaj Group managing partner Mustafa Abdel-Wadood is on track to exit a Manhattan federal detention center ahead of his trial on charges of lying to the buyout firm's backers, after a judge on Monday approved a $10 million bail package.

Abdel-Wadood, accused by Manhattan federal prosecutors of inflating the value of Abraaj funds before his $13 billion Dubai private equity firm collapsed last year, will be confined to an apartment in New York while he awaits trial.

The 49-year-old defendant must post a $10 million bond secured by two U.S. properties and will be subject to electronic monitoring, according to an...

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