July 15, 2018 / 6:06 AM / in a year

Criminal case against UAE's Abraaj founder dismissed - court

SHARJAH, July 15 (Reuters) - A criminal case against private equity firm Abraaj founder Arif Naqvi and another executive for issuing a cheque without sufficient funds has been dismissed, the presiding judge said on Sunday.

The court case relates to a cheque for 177.1 million dirhams ($48 million), signed by Naqvi and a fellow executive, and written to Hamid Jafar, another founding shareholder in Dubai-based Abraaj, a prosecution document showed.

At a court in Sharjah, one of the United Arab Emirates, Judge Natheer al-Sousi said the case had been dismissed after the claimant had waived his rights to pursue the claim.

Reporting by Alex Cornwell and Dahlia Nehme Writing by Tom Arnold Editing by Ghaida Ghantous

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