Both KPMG LLP and Navalkar have withdrawn their decisions for review by the Financial Markets Tribunal (FMT)
Abraaj Capital Limited
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Abraaj Capital Limited
Dubai slaps $2mn fine on KPMG over Abraaj audit, refers case to Financial Markets Tribunal
Both KPMG LLP and Navalkar denied the DFSA’s allegations and have applied for review of the decisions to the Financial Markets Tribunal (FMT)
Abraaj Capital Limited
Former Abraaj managing partner hit with $1.9m fine from DFSA
Mustafa Abdel-Wadood was involved in the misuse of investor funds, the withholding of sale proceeds and reports from investors, providing false explanations to investors, and the cover of a $200m shortfall in a fund at its financial reporting date, according to a statement
