Former Abraaj executive granted $10m bail bond in New York

Pedro Gonçalves
clock • 2 min read

A US district court has granted bail to a former managing partner of collapsed private equity firm Abraaj, Mustafa Abdel-Wadood, on condition that he sign a $10m bond and remain confined to a New York apartment, court documents showed. Abdel-Wadood, 49, is facing fraud charges after allegedly working with former Abraaj CEO Arif Naqvi to defraud investors of hundreds of millions of dollars before the $13bn private equity firm collapsed last year. Judge Lewis A. Kaplan of the US District Court for the Southern District of New York signed off on a $10m bond package for  Abdel-Wadood. The...

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