Dubai regulator imposes $315m fine on troubled buyout firm Abraaj

Visual from Abraaj website

Dubai’s market regulator imposed a $315 million fine on Abraaj Group, the collapsed buyout firm that’s already facing legal action in the U.S.

The Dubai Financial Services Authority, which regulates the city’s financial freezone, imposed two fines on Abraaj Capital Ltd. and Abraaj Investment Management Ltd. for “serious wrongdoing” and “misusing investors’ monies,” it said in a statement on Tuesday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter