BR Shetty admits serious fraud in companies, Prasanth Manghat and Promoth Manghat behind everything

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B R Shetty blames former chief executives of NMC and Finablr, Prasanth Manghat and Promoth Manghat for serious frauds in his companies

B R Shetty, is an Indian-born businessman who is the founder and acquirer of a number of companies based in the United Arab Emirates including Abu Dhabi-based NMC Health, Neopharma, BRS Ventures, and Finablr. On 15 April 2020, Abu Dhabi Commercial Bank filed a criminal complaint against NMC Health. Probe has been initiated and on 27 April 2020, the Central Bank of UAE ordered the freezing of Shetty’s accounts and the blacklisting of his firms. Meanwhile Shetty claimed that a probe conducted by his own advisors had found alleged fraud at NMC and payment services group Finablr. He admits serious frauds in the company, but pins the blame on former chief executives of NMC and Finablr, two Kerala brothers, Prasanth Manghat and Promoth Manghat, along with a small group of executives. He also stated that companies were set up by these two in his name without his knowledge and has taken loans, done many financial transactions using his forged signature. Now we will watch the exclusive interview of B R Shetty sharing his experiences about life, success, serious fraud in his companies, who all behind these crimes and more.

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