Dubai regulator slaps Abraaj with record $315m fine

Pedro Gonçalves
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Dubai regulator slaps Abraaj with record $315m fine

Dubai's financial regulator fined collapsed private-equity firm Abraaj Group $314.6m for deceiving investors and carrying out unauthorized activities, a record penalty in the Persian Gulf emirate. The Dubai Financial Services Authority (DFSA) announced the penalties on Tuesday as it revealed the first findings of its probe into the Abraaj scandal, which was formally launched in March last year. "We will continue our investigation and pursue all relevant inquiries," said Bryan Stirewalt, DF...

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