BloombergBavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. Shetty resigned Sunday as NMC’s chairman.In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged 67%, and the firm is now the focus of takeover speculation. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd .

Source: Economic Times February 19, 2020 07:07 UTC