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...

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