Mangaluru man walks free from Oman jail, thanks Indian Social Forum

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

In the wake of Saudi Arabia's assurance that Masjid al-Haram of Makkah and Masjid an-Nabawi of Madinah will be opened for believers after some days, a message has gone viral on social media claiming that both the holy mosques will open on Ramadan 8 (May 1).

The message which was widely circulated on Facebook and WhatsApp, also contained certain condition such as people should fetch their own prayer mats and that they should not use the washrooms in the mosques. 

Clarification

Meanwhile, the authorities of the two holy mosques, issued a clarification that the claims made in the viral post are false and baseless.

"The message being circulated about the opening date for Haramiain (two holy mosques) for public is completely baseless and false. The suspension of prayers for general public is still in effect," they said in a social media post.

Mangaluru, Mar 14: In a bid to prevent the coronavirus spread in the city, Mangaluru City Corporation on Saturday disallowed the street vendors to continue their business activities until further notice.

MCC Commissioner Shanady Ajith Kumar Hegde, in an order released today, warned that any vehicles, carts or trolleys that would be seen violating the order will be towed away.

The development comes in the wake of state wide ban on all shopping malls. In Mangaluru too all the malls remained shut today.