Reported 19 days ago
In a recent High Court submission, EY alleged that Sheikh Mansour's connections shielded two shareholders from accountability in the NMC Health collapse, which involved the concealment of $4 billion in debts. EY claimed the administrators opted for a lenient settlement with the Bin Butti brothers due to the political influence of Sheikh Mansour, ultimately compromising creditor interests. NMC Health, listed on the London Stock Exchange, collapsed in 2020 amidst revelations of fraudulent activities, raising concerns about the auditors' negligence in detecting the fraud.
Source: YAHOO