US prosecutors say former Abraaj director 'sought to hide cash crisis' before company collapse

Pedro Gonçalves
clock • 2 min read

Former Abraaj managing partner Sivendran Vetttivetpillai attempted to hide the firm's precarious financial position from investors while trying to raise $6bn for a private equity fund, according to US court documents. Vettivetpillai, 52, sent an email to Abraaj officials in January 2018 advocating the approach after $230m was allegedly moved from a health fund to prop up other parts of the business, US prosecutors claim. Abraaj was at that time seeking to raise billions of dollars for a...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login