Former Abraaj CFO fined US$1.7m for deception

clock • 3 min read
Former Abraaj CFO fined US$1.7m for deception

The Dubai Financial Services Authority (DFSA) has today published a decision notice against Mr Ashish Bhrugu Dave (Mr Dave), a former Chief Financial Officer (CFO) of the Abraaj Group, imposing a penalty of US$1.7m (AED 6.24m).  The notice also prohibits and restricts Dave from performing any function in connection with the provision of financial services in or from the DIFC in the future. Dave was the Abraaj Group CFO from September 2008 to September 2013 and then again from February 201...

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

Author spotlight

Gary Robinson

Commercial Director, Head of Video at International Investment.