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Abraaj Group: The Emerging Markets Fund Built on Misappropriated Capital - Part 3: The Machinery of Concealment
Season 16
Episode 3
Published 3 weeks, 3 days ago
Description
What if the real trick isn’t hiding the money, but making the paperwork tell the wrong story? Abraaj’s fraud wasn’t a smash-and-grab. It was a daily ritual—a system of records, transfers, and justifications that made everything look normal. The truth was buried in plain sight.Once Abraaj had gathered the money, the work of keeping up the story began. According to the United States Department of Justice and the Securities and Exchange Commission, Abraaj’s misconduct was technical, layered, and relentless. Money meant for one fund was moved to another. Capital earmarked for investments covered salaries, offices, and overhead. In the world of private equity, with funds in multiple jurisdictions and entities stacked on top of each other, a simple transfer could vanish into a sea of approvals. Every move looked routine. A capital call here. A management fee there. An internal allocation that, on paper, had a business reason. Each piece looked normal. The lie survived because every detail was plausible—until the sum of the details became impossible.Learn more at: https://thefraudarchive.com/fraud/abraaj-group
The Fraud Archive is part of The Archive Network by Jonkai Ventures, a collection of podcasts dedicated to exploring history's greatest cons, scams, and financial crimes.
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