Prosecutors Add More Execs, Claims In Abraaj Criminal Suit
Law360 (June 13, 2019, 9:11 PM EDT) -- A New York federal judge unsealed an indictment Wednesday adding three Abraaj Group executives and more than a dozen new claims to a lawsuit over what prosecutors called the "largest collapse of a private equity firm in history."
The superseding indictment leveled a host of new claims against Abraaj founder and former CEO Arif Naqvi and former managing partners Mustafa Abdel-Wadood and Sivendran Vettivetpillai, while also bringing a third managing partner, the company's former chief financial officer and a former vice president into the fold.
According to prosecutors, the six executives allegedly conspired to commit securities fraud, wire fraud and money laundering, among...
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