{"id":6944,"date":"2019-04-19T09:10:52","date_gmt":"2019-04-19T14:10:52","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6944"},"modified":"2020-09-24T09:45:46","modified_gmt":"2020-09-24T14:45:46","slug":"abraaj-investment-fraud-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/","title":{"rendered":"SEC Charges Abraaj Investment Management With Defrauding Investors"},"content":{"rendered":"

The US Securities and Exchange Commission (SEC)<\/a> is accusing Abraaj Investment Management Ltd., a Dubai-based investment advisory firm, with misappropriating money from the Abraaj Growth Markets Health Fund. The regulator said that the fraud has resulted in losses for US investors, including charitable organizations that invested over $100M in the Fund. Also facing civil fraud charges is Abraaj founder Arif Navqi. In total, the investment adviser and Navqi are accused of misappropriating more than $230M from the fund between at least 9\/2016 and 6\/2018.<\/p>\n

According to the regulator\u2019s civil complaint<\/a>, investors were told that their money would go into businesses related to healthcare in emerging markets. Instead, Abraaj Investment Management allegedly used the money to pay for cash shortfalls at the firm and at parent company Abraaj Holdings, Ltd., both of which Navqi controlled. Meantime, investors were allegedly sent financial statements and quarterly reports that were materially misleading or false.<\/p>\n

Registered in the Cayman Islands, the Abraaj Growth Markets Health Fund\u2019s investors had committed $850M. Additionally, the SEC stated that one of the fund\u2019s investors was a US government entity that had committed an additional $150M debt investment.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission (SEC) is accusing Abraaj Investment Management Ltd., a Dubai-based investment advisory firm, with misappropriating money from the Abraaj Growth Markets Health Fund. The regulator said that the fraud has resulted in losses for US investors, including charitable organizations that invested over $100M in the Fund. Also facing civil fraud […]<\/p>\n","protected":false},"author":2,"featured_media":366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4052,3760,3761],"tags":[3374,3375,3376],"class_list":["post-6944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-institutional-investors","category-sec-enforcement","category-securities-and-exchange-commis","tag-abraaj-growth-markets-health-fund","tag-arif-navqi","tag-braaj-investment-management"],"yoast_head":"\nSEC Charges Abraaj Investment Management With Defrauding Investors | SSEK Law<\/title>\n<meta name=\"description\" content=\"The regulator said that the fraud by Abraaj Investment Management has resulted in losses for US investors, including charitable organizations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Charges Abraaj Investment Management With Defrauding Investors | SSEK Law\" \/>\n<meta name=\"twitter:description\" content=\"The regulator said that the fraud by Abraaj Investment Management has resulted in losses for US investors, including charitable organizations.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Charges Abraaj Investment Management With Defrauding Investors | SSEK Law","description":"The regulator said that the fraud by Abraaj Investment Management has resulted in losses for US investors, including charitable organizations.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/","twitter_card":"summary_large_image","twitter_title":"SEC Charges Abraaj Investment Management With Defrauding Investors | SSEK Law","twitter_description":"The regulator said that the fraud by Abraaj Investment Management has resulted in losses for US investors, including charitable organizations.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/","url":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/","name":"SEC Charges Abraaj Investment Management With Defrauding Investors | SSEK Law","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg","datePublished":"2019-04-19T14:10:52+00:00","dateModified":"2020-09-24T14:45:46+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The regulator said that the fraud by Abraaj Investment Management has resulted in losses for US investors, including charitable organizations.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg","width":400,"height":267,"caption":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/abraaj-investment-fraud-investors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Charges Abraaj Investment Management With Defrauding Investors"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/03\/investments-module.jpg","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1O0","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=6944"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6944\/revisions"}],"predecessor-version":[{"id":19270,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6944\/revisions\/19270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media\/366"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=6944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=6944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=6944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}