The official told Reuters that a former managing partner of Dubai-based Abraaj, Sev Vettivetpillai, had also been arrested and was facing US extradition request linked to the same charges. Abraaj founder Arif Naqvi arrested on US fraud chargesWhilst at Abraaj, Vettivetpillai was the head of impact investing in a role that oversaw the firm’s troubled healthcare fund. Abraaj’s executives are facing US charges that they defrauded their investors, including the Bill and Melinda Gates Foundation. Commercial Bank of Dubai to take control of Abraaj assets secured against loanNaqvi, in a statement released through a PR firm, pleaded innocent last week. Dubai’s financial services regulator said on Monday that it was in touch with the US Securities and Exchange Commission about the latest case involving collapsed private equity firm Abraaj.

Source: The Express Tribune April 18, 2019 15:00 UTC