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...

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