#fraud
The group comprised 72 Chinese nationals, one Jordanian, two Nigerians, two Cameroonians, one Ugandan and one Kenyan
Consumers in MEA can receive up to three scams a day, with a quarter receiving more messages from fraudsters than they do from their friends and family
The Public Prosecution is investigating allegations of financial violations committed by chairman Khalifa Hassan Al Hammadi as well as other senior executives
In the Middle East, issues relating to fraud and corruption are of concern because of the lack of anti-fraud legislation in place
The accused are charged with creating a fraudulent digital platform through which they engaged in illegal economic activities
Abraaj, which was headed by financier Arif Naqvi, went into liquidation in 2018
Each of the four defendants has been handed a five-year imprisonment term followed by deportation and a fine of Dhs10m
The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank
![Dr B.R. Shetty, Founder and Co-Chairman of Finablr, at the London Stock Exchange[2] copy](https://mot-backup.gulfbusiness.com/wp-content/uploads/2019/08/Dr-B.R.-Shetty-Founder-and-Co-Chairman-of-Finablr-at-the-London-Stock-Exchange2-copy.jpg)
The NMC Health founder denies wrongdoing and says he has “complete faith in the justice system of the UAE”
Finablr and NMC Health were both listed on the London Stock Exchange before being suspended
The moves mark the official beginning of the dismantling of NMC, which once had a market value of up to $11bn
Shetty claimed he was also a victim of fraud and put the blame on a “small group of current and former executives”