Transcripts For ALJAZ BR Shetty And The Missing Millions 202

ALJAZ BR Shetty And The Missing Millions July 12, 2024

Elections saying its the only way out of the crisis. As Michael Bennett when you know we we cannot face these problems unless we have early elections to elect new politicians and a new parliament we need a new political elite and a new parliament we need to Work Together to overcome this difficult period we know and i know the people have questions about the catastrophe and how the government plans to handle it the catastrophe is way bigger than anyone could imagine the impact my stay forever. In other headlines the number of people have died of covert 1000 in brazil has passed 100000 according to a brazilian media and Media Consortium see only only the 2nd country to reach that tragic milestone after the United States activists of marked the moment with a striking event on rios famous copacabana beach they set out 100 black crosses released and released a 1000 red balloons one for every 100 people who have died president bill scenario has consistently played down the crisis thousands of people are again on the streets in israel calling for the Prime Minister to stand down the gathering outside Benjamin Netanyahu is residence in west jerusalem anger is governments handling of the coronavirus pandemic has added to tension caused by his impending trial of the corruption charges. How a force that is but at a protest and says the problems are stacking up in sci. Another very noisy very substantial protest here in west cirrus one just a few 100 meters from the Prime Ministers residence benjamin a residence just beyond the square behind me once again very much dominated it seems by the israeli political left we see the black flags of the prodemocracy had seen as no movement and others good long been protesting against his premiership saying that he should resign because of the fact that he is on trial in 3 separate Corruption Cases but as well as that these are very much greenfield these protests by those whove been hangin in disappointed by the governments performance in dealing with the coronavirus. Away from whats happening on the street though its worth noting there are other Major Political developments going on every week every sunday Israeli Government has a Cabinet Meeting it seems that this one could be cancelled this sunday because of a disagreement between the 2 sides the likud party of Benjamin Netanyahu and the blue and white party of benny gantz his former rival and also the Prime Minister they have been deep in argument over the passage of a budget that yahoo wants a one year budget to allow them brianna potentially in calling fresh elections and staying in office up until those elections dance wants to see the deal they signed off on it being a 2 year budget giving him more security in himself taking office on time in the event been next year so this is only fueling which is already very rampant speculation that this coalition could break up and israel could be facing a forefront of election within months. Afghanistans highest consultative body has recommended the government release 400 taliban prisoners but only if they promise not to return to fighting the release of the prisoners is seen as the last hurdle before peace talks can begin with the taliban now to president ashraf ghani to make a final decision. And u. S. President donald trump is expected to sign as many as 4 executive orders on saturday off the talks with democrats faulted on an Economic Relief package one of the executive orders which aim to restore some unemployment aid for millions of americans in hearts benefits expired last month. But as the headlines this hour aljazeera world is coming up next ill be more news after that and then of course as always our web site as well as there at all costs. Abu dhabi capital of the United Arab Emirates and the location of a financial controversy of huge fortunes won and lost. Its a story that revolves around the man on the left the indian billionaire tycoon doc to be our shetty. For several months time around this howl of aljazeera arabic channel follow the money trail in which the numbers involved are quite staggering. He looked into a man who owes millions and in one case over a 1000000000 u. S. Dollars. At the center of this debt crisis is an m c l an Abu Dhabi Based hospital provider with a global reach. It seemed that mc was riding the crest of a wave Health Care Spending in the u. A. E. Was high with patient numbers in the millions. The company had expanded into spain saudi arabia and the u. K. With some 20000 medical staff operating around 200 facilities. And embassies charismatic founder b. R. Shetty was well connected in the u. A. E. Counting among his friends the under secretary of the crown prince called about Mohammed Mubarak our mother only. The aljazeera arabic team discovered color. Spondon between the 2 men at a time when the true scale of venom seize debts was starting to become public knowledge. It was january 2020 and shetty was seeking a meeting with his friend the advisor to the crown prince about the double. As shetty revealed the nature of n n cs debt crisis the advisers said that he was out of town but they agreed to meet the following week at an m r r g ocean palace. Meeting with at the end of january was targeted at a higher level shetty needed to engage with Shaikh Mohammed bin desired the crown prince of abu dhabi. The discussion at that meeting is known only to those who took part but what is certain is that shortly afterwards b r shetty flew to india and did not return. A series of outwardly friendly messages followed between shetty and through a including reference to a private letter from shetty to the crown prince. Aljazeera wrote to the under secretary of the Crown Prince Court of Abu Dhabi Mohamed mubarak al masri wanting to discover more about his january meeting with b r shetty it also asked to see the letter from dr shetty to the crown prince. But no reply was received. But by that time shetty s n n c m car had begun tumbling down the 1st rumblings of financial trouble were in december 29th jean but by march 2020 Global Confidence in n m c was in freefall as was the companys openly traded share price. N n c announced that it had discovered suspected fraud and that hidden debts amounted to over 4000000000. 00 u. S. Dollars. The al jazeera arabic team has spoken to those close to shetty. Questioning former associates and Financial Experts in this program they pieced together the evidence which now reveals the previously untold story of the rise and fall of a selfmade indian billionaire. The man and the thought to be our city how can it heavy and they have been especially like. I was never expecting there are never far from the clouds daughter she. Was a big philanthropist she helped thousands of people and organizations recently 2 years ago who played bill got his asian of beauty and believe the gates to give half of his fortune she was given back to the society. For example they say she has. 2 floors of bullshit she bought yet but why he bought what fingal itll be bye bye when shes giving back to the government. Wanted to know how shes empire fell so far leaving a long trail of debt in its wake. The tycoon was clearly well connected and had a long track record of Business Success so where did it all go wrong. Because he had been as i but all. The whole of the law and it had been that i mean. If. I knew stuff and been oak where. I thought i had a bank. And actually. That oddly similar on the theme side studier sheet of folk. Someone will walk up to me no food while at the hostel my with an effing fellow slip in a shitty and yet the opposite way it will not a damn what a fool audigy and then bother with them if in the end. d d but who is beyond. Growing up in india he trained as a pharmacist d in the western city of money. Then in 1973 he traveled to the United Arab Emirates to as it were seek his fortune. 2 years later he founded new Medical Center health and mc responding to the demand for Quality Health care in the u. A. E. Very quickly the business expanded as new clinics opened across the country. With large numbers of Foreign Workers in the u. A. E. Sending their earnings back home shutting also saw an opportunity in Money Transfer and opened a chain of outlets called u. A. E. Exchange. Business was booming and shetty was in the right place at the right time. Building relationships with the u. A. E. As all powerful shakes appeared to open doors for shetty and his ambition knew no bounds a tycoon was born. And thanks to his highness save that missile from the land peace be upon his soul and hes open welcome to anybody so when he came we had no job opportunity to have a pharmacist when they came here my brother mother advised we saw go what would you want to do do something good to the Community Keep the community in mind and when they came here his highness exact. Word t. V. He was telling Quality Health care for all at their fordable cost so i started the 1st to project in the my way of being the doctor 1st doctor and mc and one broom clinic we started as and today we have 200. 00 facilities 208. 00 facilities in 1000. 00 countries 3000. 00 doctors 8500000. 00 patients a year he wanted today it is 1. 00 you eat 1000000000. 00 which is a very happy and what the what the capital. Bisect bank the money and the blessing from the raj. Tamar elmas hal and his team obtained documents that show how close shetty was to senior political figures in the u. A. E. One name the former Justice Minister abdullah homemade almas through a appears in these documents as a shetty business partner. Government ministers having private business interests in the middle east is not unusual or illegal and the partnership proved profitable for both men. Another associate is now here on bin mubarak. The current you a minister of tolerance. This power of attorney document reveals that as culture minister he authorized shetty to be is official representative in shetty is pharmaceutical business neo farmer. To find out more about shut his business methods time around less how to track down one of his Close Associates in the u. A. E. A long time observer of b. R. Shetty. Agreed to be interviewed on condition that he remain anonymous and his voice be disguised said can you tell me about what do you know about mr b r city and how did he manage to reach this in the u. A. E. R r beyond. Or be on trial im wrong there are no older. Call at the moment. Relationships. But hes still not as a doctor. You are. Free will. You know is wrong but you know. And so over time. And certainly no doubt was. Down. In 2011 there were changes at the top of the n. M. C. Group abdullah who made. The former Justice Minister was removed. Through a would later say that the amount he received for his shareholding was less than it was actually worth. In his place came to young investment specialists from a Company Called century and partners investments. They were hairy on the left and saeed al kobe see. There were plans to float the n. N. C. Health care group internationally a move that would bring in new investors from across the globe. In 2012 and then see became the 1st Abu Dhabi Company to be listed on the London Stock Exchange the initial Public Offering or i. P. O. Raised 186000000. 00 u. S. Dollars. Investors from across the world sort a slice of the action. But what was the significance of n n cs London Stock Exchange listing. For them see its very important it gains against credibility it gains access to Institutional Investors it gains access to individual investors Retail Investors and as the company grew in this case it becomes part of the footsie 100 index and as it does that it gathers assets from index invest investors around the world clearly this company had enormous influence in the United Arab Emirates government it was branded as one of the most successful firms that the United Arab Emirates ever spawn off it was touted around the world as a shining success story. But the former Justice Minister no longer involved following the london listing the new amorality power brokers within the shetty empire was saeed al could they see as a hiding but some question suitability for the job. Jasim. Any film heavy was a look this is the show aka mouth shitty then hell you have a new plane with many a model for how they said. The atoll and the home. And they dont you has will have a list of modern i would then walk away at how i book. Me a little think about the material i want with and welcome home and what he did. But. I also know im not im sorry about. It so i thought it was nothing since the tally. Lesser as sarah and they were not at that and. They help us regarding mr felisa harry and said look basically how do they fit in to that relationship so what worked and you want to kill that they dont like to have. You know people are shot and documents they dont want. They hire you know trust nonroyal 2 signatures and. You know that. The local man but these people are really acting or proxy decision to marry and to p. C. L. You know they are their world was acting on behalf of. War zone. Should. Rob. Or you or. Your. So. How. Far along. Are our real. Shakman soul been ziad are not often referred to simply as shipments or is the deputy Prime Minister of the United Arab Emirates. But did the billionaire shaikh play an unseen role in the shetty empire. And what was his connection to the new n m c power brokers alcoa basi and our more early. Aljazeera roads to check months or asking if he would comment on the allegation that saeed al kobe see an area of censuring investments acted as proxy directors on his behalf and that their shareholding was managed for his benefit giving him effective ownership of n n c else. But no reply was received shakman saw hold several other positions at the very top of amorality politics and society his business interests are vast estimates put his net worth as high as 20000000000. 00 us dollars. And what i do want to business where i would have been a thing about this deficit is there is either a whole lot that was evident. And i thought i thought the same with some of you had a lot to do with the. Wells or. You send the branch who are in the plant for cool well class. The 3rd and the one minute in a minute a 1000000 or less. Be washed out and feel the hand but it was. There how bitterly to help. Were it when that action had hit and the letter of what their religion who are. How were you feet. Badenhorst as a whole meal with the thought of house. And what the hostility. Was in amalia out her mobile home with. Her loved one much of them all the world will join. Up with a bit off then and then abroad where the new year when they have been all generally. Fear and the not. Now man has certain. Muscle have. The will. And the say hello and. The one what will you. Let the have a lathe and the wolf and the thoughts of the. Shanties business interests were huge. At their core was the n. M. C. Health care group providing hospital facilities in the u. A. E. And several other countries. Then theres fin a blood a Global Platform for payments and Foreign Exchange with millions of Foreign Workers in the middle east sending money back to their own countries this is a lucrative Business Travel x. And exchange up to a finagle as flagship brand. Theres also neo pharma a Factory Manufacturing prescription medication. Other parts of shut his Business Empire include companies in no man and morocco. An investment in 1000000000 marks of the fossils havent you larry and want to be a little more is that what ought to be asked about the theater and what theyre going to write that comes with. So was shetty made the scapegoat for the decline of his Business Empire or was he the architect of his own misfortune. A search of registered companies in abu dhabi reveals an intricate web of different organizations some in chechens name others on the shetty and his Business Partners of these legitimate Trading Companies or is there a different explanation for them. Players are 2 and i can can only morality male is a machete cant be a new so you know men who are american how can they have the show the captain and the mayor at the other was lead. To hama. Because you had the show to get have a show because that would be i leave. A hurried where clearly they him what you are hard. Because you know while. You have the full spell in what ive. Been am in the middle of that i mena. If i see the i will mushroom house up the. Ladder we have and to kill jews and women feel hard but. They have. To let you can and to at the less they will face he didnt have the hear he had to work theres been business relationships not just in an m. C. But in other companies as well i think whats evident i

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