NMC founder sues EY, banks and execs for $8 bln over alleged fraud

nmc founder sues ey banks and execs for 8 bln over alleged fraud

Sumary of NMC founder sues EY, banks and execs for $8 bln over alleged fraud:

  • Shetty, the founder of stricken UAE hospital operator NMC Health, has sued auditor EY, two former top executives of his companies and two banks in a U.S. court, seeking $8 billion in damages for an alleged multibillion-dollar fraud at his group.
  • ”Several companies linked to the Indian entrepreneur ran into trouble last year after short-seller Muddy Waters questioned NMC’s financial statements.

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