Tuesday 28, August 2018 by Bloomberg

Abraaj's Naqvi sentenced to jail in UAE

 

The verdict was issued on 26 August, court documents showed.

A court in the United Arab Emirates has sentenced Arif Naqvi, the founder of embattled buyout firm Abraaj Capital, to three years in prison in a bounced check case, according to court documents seen by Bloomberg.

A lawyer for Naqvi couldn’t be immediately reached for comment. It wasn’t immediately clear whether the ruling would affect settlement talks between Naqvi and his creditors.

The verdict was issued on 26 August, court documents showed.

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