Former Abraaj CFO fined $1.7m for ‘deception, unauthorised activity and compliance breaches’

DFSA decided to take enforcement action against Mr Dave for being knowingly involved in breaches of DIFC legislation and the DFSA’s Rules by Abraaj Investment Management Limited (AIML), a Cayman entity not authorised by the DFSA, and ACLD.

Ashish Bhrugu Dave was the Abraaj Group CFO from September 2008 to September 2013 and then again from February 2017 to March 2018

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