{"id":628996,"date":"2018-05-20T03:55:30","date_gmt":"2018-05-20T03:55:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/20\/abraaj-founder-being-asked-to-take-a-few-steps-back\/"},"modified":"2018-05-20T03:55:30","modified_gmt":"2018-05-20T03:55:30","slug":"abraaj-founder-being-asked-to-take-a-few-steps-back","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/20\/abraaj-founder-being-asked-to-take-a-few-steps-back\/","title":{"rendered":"Abraaj founder being asked to take a few steps back?"},"content":{"rendered":"

Abraaj founder being asked to take a few steps back? <\/strong>Abraaj investors are asking founder Arif Naqvi to \u201cscale back his involvement\u201d in the private equity firm \u201camid a row over misuse of funds,\u201d sources close to the matter tell Reuters<\/a>. Some investors reportedly refuse to have Naqvi involved at all in running the business. The Dubai-based emerging markets private equity giant had announced in February<\/a> that it would undergo a management restructuring and corporate reorganization that will see Omar Lodhi and Selcuk Yorgancioglu promoted to co-CEOs alongside Naqvi, after allegations of misuse of funds surfaced. Abraaj has denied wrongdoing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abraaj founder being asked to take a few steps back? Abraaj investors are asking founder Arif Naqvi to \u201cscale back his involvement\u201d in the private equity firm \u201camid a row over misuse of funds,\u201d sources close to the matter tell Reuters. Some investors reportedly refuse to have Naqvi involved at all in running the business. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628996","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ebbd15d3-469c-4edd-b198-2651d5397a8e","order":"0","is_powered_by":true,"section_story_id":"a2fbeb4e-fcb2-434c-924a-9eeb3e2167a1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628968],"teaser":"","voice_url":""},"yoast_head":"\nAbraaj founder being asked to take a few steps back? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/20\/abraaj-founder-being-asked-to-take-a-few-steps-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abraaj founder being asked to take a few steps back?\" \/>\n<meta property=\"og:description\" content=\"Abraaj founder being asked to take a few steps back? Abraaj investors are asking founder Arif Naqvi to \u201cscale back his involvement\u201d in the private equity firm \u201camid a row over misuse of funds,\u201d sources close to the matter tell Reuters. Some investors reportedly refuse to have Naqvi involved at all in running the business. 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Naqvi is likely to face a hearing in the UK on 24 May to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596535,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/former-abraaj-exec-mustafa-abdel-wadood-pleads-guilty-to-racketeering-fraud-charges\/","url_meta":{"origin":628996,"position":2},"title":"Former Abraaj exec Mustafa Abdel-Wadood pleads guilty to racketeering, fraud charges","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"Former Abraaj exec Mustafa Abdel-Wadood pleads guilty to racketeering, fraud charges: Former Abraaj managing partner Mustafa Abdel-Wadood has pleaded guilty to racketeering and securities-fraud charges at a court in New York, Reuters reports. Abdel-Wadood admitted to lying to investors at the behest of Abraaj founder Arif Naqvi, and agreed to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597591,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/dubai-financial-regulator-fines-abraaj-usd-314-6-mn-for-serious-wrongdoing\/","url_meta":{"origin":628996,"position":3},"title":"Dubai financial regulator fines Abraaj USD 314.6 mn for \u201cserious wrongdoing\u201d","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"Dubai financial regulator hands record USD 314.6 mn fine to Abraaj for \u201cserious wrongdoing\u201d: Former private equity giant Abraaj has been fined a record USD 314.6 mn by Dubai\u2019s financial regulator, the Wall Street Journal reports. 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