SHARE
News in Brief - Caproasia Online

Are you looking for your next career? Banks, Private Banks, IFAs, Fund Management Co.? Search for wealth & investment Jobs here or join thousands of leading financial professionals to receive the latest news and updates here

Swiss Probe Ex- Abu Dhabi Official on 1MDB

Khadem al- Qubaisai who previously ran International Petroleum Investment Company or IPIC is suspected of fraud, money laundering and corruption.  Qubaisi is one of four suspects named in a letter last month from Swiss prosecutor, Michael Lauber to BSI bank.

Qubaisi was one of Abu Dhabi’s most active investors in recent years and led IPIC‘s investments in assets such as Virgin Galactic and Tesla Motors. Qubaisi is alleged by U.S. authorities to have used 1MDB funds to buy a New York penthouse and other real estate worth $100 million.

News Source: Finews Asia

 

About International Petroleum Investment Company

International Petroleum Investment Company Logo ThumbnailInternational Petroleum Investment Company (IPIC), formed by the Abu Dhabi government in 1984 to invest in the energy and related sectors across the globe.Today it manages a portfolio of investments in more than 18 leading companies across the hydrocarbon value chain, including exploration and production, shipping and pipelines, downstream retail and marketing, petrochemicals, power and utilities as well as industrial services. The company was created by The Late HH Sheikh Zayed Bin Sultan Al-Nahyan, founder and first President of the United Arab Emirates, to advance his vision of using Abu Dhabi’s natural petroleum wealth to build a modern, diversified economy for the benefit of future generations.

  • Origin : Abu Dhabi, United Arab Emirates
  • Assets : US$58.04 billion
  • Revenue : US$35.8 billion
  • Employees : 81,760

Official Website: www.ipic.ae

Advertisement


News & Media: Press Release

Updated on 8th August 2016

 



Caproasia Online is an E-Magazine for Wealth Managers, Private Bankers & Investment Professionals.  View latest jobs in Banks, Private Banks, IFAs, Fund Management at the Jobs Center or join thousands of leading financial professionals to receive the latest news and updates here

For content usage and citations, kindly provide a backlink or whenever possible – Source: Caproasia Online.