Although the fine is only provisional, it is the latest twist in a saga that has spanned multiple continents and touched some of the world’s wealthiest people. Abraaj managed $14 billion for investors at its peak before its collapse in 2018.
<p><span>The Dubai Financial Services Authority (DFSA) has today published Decision Notices taking action against Mr Arif Masood Naqvi (Mr Naqvi) and Mr Waqar Siddique (Mr Siddique) for serious failings in respect of the Abraaj Group.</span></p>
DUBAI, United Arab Emirates (AP) — A regulatory body in Dubai said Thursday it is seeking to impose a staggering fine of $135.5 million on the Pakistani-born founder of Abraaj