The Dubai Financial Services Authority has decided to fine (Ashish Dev), the former CFO of the Abraaj Group, in the amount of $1.7 million for administrative and financial irregularities.
According to Arabiya Net, the punishment included banning Ashish Dev from performing any job related to providing financial services in the Dubai International Financial Center or in one of the companies affiliated with the center. .
Dave held the position of Chief Financial Officer for the Abraaj Group from September 2008 to September 2013 and then over a second term in 2017 and 2018.
The DFSA decided last June to take action against Dave for his knowingly involvement in violations of DIFC legislation by Abraaj Investment Management Limited.