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NMC Founder Shetty Says Probe Shows He Was Victim of Fraud

April 29, 2020, 9:19 AM

Bavaguthu Raghuram Shetty, the founder of NMC Health Plc and Finablr Plc, said a preliminary investigation into the London-listed companies by his advisers indicated “serious fraud and wrongdoing.”

Shetty and his advisers have “shared information and evidence from our findings with all relevant boards, as well as with relevant law enforcement and regulatory authorities,” according to a statement.

Read more: NMC’s Deepening Debt Crisis Heads to a Showdown in U.K. Court

Trading in NMC, which had a market value of $10 billion at its peak, was suspended in February amid allegations of fraud. It has revealed more than $4 ...