Civil case
Securities and Exchange Commission v. Arif M. Naqvi and Abraaj Investment Management Limited
- Authority
- US District Court for the Southern District of New York
- Case number
- 1:19-cv-03244
- Filed or opened
- 11 April 2019
- Organization
- Abraaj Group
- Current stage
- Complaint filed 11 April 2019 and later amendedS1. Pending with no final judgment against Naqvi as of October 2026.
- Outcome
- Pending.
Decisions and steps
- SEC files civil fraud complaintS1
Claims this case bears on
- Unresolved76The US Securities and Exchange Commission said on 11 April 2019 that Abraaj founder Arif Naqvi and Abraaj Investment Management Limited misappropriated money from the Abraaj Growth Markets Health Fund.Regulator statement, 11 April 20191 record citedFraud
Sources
- S1Tier A SEC Charges Dubai-Based Advisory Firm and Its Founder (Litigation Release No. 24449)US Securities and Exchange Commission. Regulator press release. 11 April 2019.Supports the SEC allegation that Naqvi and Abraaj Investment Management Limited misappropriated Health Fund money. The 2019 complaint is an allegation, not a finding.