Transcripts For ALJAZ BR Shetty And The Missing Millions 202

ALJAZ BR Shetty And The Missing Millions July 12, 2024

Battling with police into the early morning. When they try to right there police was already blocking the road detaining people so the the people were sort of trying to get together but they were all separated by police then there was a clash of police was firing a stun grenades into the crowd one police truck ran into protesters and took one protester with them so im guillen says were taking away the injured people and around the city the police have been blocking off roads trying to stop people from gathering and at the moment people are still driving around in their cars honking their horns showing their protest signs raising their their fists so thats still happening in a deep in the night here its been and also what were hearing in other cities around that are rude these scenes have not been witnessed before in since there were protests against election fraudulent elections of 2010 but those protests were much smaller theyre also faced a crackdown by police than by the future were detained and injured but the masses have grown since then these batches of of thousands of people on the streets angry has never been seen before in men so the protection is just not going to go away. Hong kong media tycoon jim eli has been detained in what is the most high profile arrest yet under the beijing imposed National Security law and executive and lies media group says hes been arrested on suspicion of colluding with Foreign Forces fly is the owner of apple daily which is one of the most widely read newspapers in hong kong its already been facing multiple charges for his role in the citys prodemocracy movement. Protesters in lebanon have gathered near the countrys parliament for a 2nd night as anger grows over tuesdays port explosion tear gas was fired to disperse the demonstrators whove been hurling rocks they say government corruption is to blame and theyre demanding a political overhaul to government ministers have responded to the widespread anger by resigning. This is the point of no return people are starving the economy has deteriorated the economic crisis is heightening our families children friends have just been left behind fear and disappointments lives within them in this fateful moments we cannot just sit behind we have to stand in dignity together as a nation i feel that i need to send an apology to the lebanese people because we failed to achieve their ambitions due to the difficulties the official number of corona virus infections across the u. S. Has now passed 5000000 but theres concern the actual figures could be much Higher Health officials are urging the use of face masks and social distancing but this was the scene in south dakota this weekend around 400000 people gathered for a 10 day motorcycle rally in the city of sturgis afghanistans president ourself ghani has agreed to release 400 taliban prisoners the release was a precondition from the taliban to agree to hold peace talks with the government 8 people have been killed by gunmen in southern asia it happened while the group was on a 2 in the west african giraffe reserve east of the town of could a. Defense minister says men on motorcycles shot at the group 6 of those killed were french aid workers frances president emmanuel maccollins denies the attack as cowardly is not yet known who was behind the attack. The Worlds Biggest Oil exporter has reported a 73 percent drop in the 2nd quarter profits saudi aramco says despite a partial recovery demand remains significantly down because of the corona virus pandemic. Those are the headlines the news continues here on after all to see the world beyond shetty and the missing millions of by. My ilk to a. 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 emcees 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 away. The aljazeera arabic team discovered career. 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. I. 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 is an mc emtala had begun tumbling down the 1st rumblings of financial trouble were in december 29th seen but by march 2020 Global Confidence in n n 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 were never i fall 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 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 way to. The tycoon who was clearly well connected and had a long track record of Business Success so where did it all go wrong. And. The whole of the law that had the. I mean. If. I knew stuff and been oak where they. Thought i had a bank. And actually. That. Study or she looked folk. Up to be in a food while at the hospital my with an if it follows that your shitty and yet for. A damn what a fool. Bother with an if in the end ready. 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 n c 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 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 shapes appeared to open doors for shetty and his ambition knew no bounds a tycoon was born. And thanks to his highness take that missile from the land peace be upon his soul and hes given open welcome to anybody so when i came in or Job Opportunity Program or pharmacist when they came here my brother mother advised me so go whatever you want to do do something good to the Community Give the community in mind and when they came here his highness exam better breckenridge t. V. He was telling Quality Health care for all at the affordable cost so i started the 1st to protect in the my way of being the doctor 1st doctor and then mc and 1. 00 broom clinic we started as and today we have 200. 00 facilities 208 for that is in 1000. 00 countries 3000. 00 doctors 8500000. 00 patients a year until today it is one point for to you 8000000000. 00 which is im 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 Plan or. 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 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 pharma. To find out more about chechens business methods time around this 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 e r r. R r b on trial im wrong hes known. At the moment. In terms of the relationship. But hes still not as a doctor. You are. Free will. You know is wrong. You know. And so over time. And no doubt was what was going 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 wood lathe to 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 c. There were plans to float the n. M. 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 i would be 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 of 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. And even in haiti was a look this is the shaka mouth shitty then hell you have a new plane with many a model for other ships said. The atoll and home. And they dont you has will have a list of modern i would then walk away and how i book can let me a little think about the model 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 solution to marion to p. C. L. You know they are their world was on the help. 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 shake play an unseen role in the shetty empire. And what was his connection to the new n m c power brokers alcoa basi and elmore 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 that i think about this deficit is there is either a whole lot that was ever done. And i thought i thought the same with some of you had a lot to do with a. Poor. Long hussam the bench you are in the fight for cool well class. Within the one minute in a minute a 1000000 or less. Feel the hand but it was. There how bitterly to help. When that had hit the letter of what their religion who are. How are you feet. Badenhorst as a whole me of wealth that i will what it. Was in amalia removal how the. One machine from all the world will join. Up with of it all then and then abroad where the new year when there have been all generally. Fear and the number. Now known has. A dollar. And now say hello. To one what will you. Let the have a lathe and the bill found out 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 blow 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 to a finagle as flagship brand. Theres also neo pharma a Factory Manufacturing prescription medication. Other parts of shut his Business Empire include companies a no man under morocco. An investment in 1000000000 marks of the fossils havent seen you larry and when you were normal so on is that what ought to be asked about that the i dont know 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 the claims or the next an unknown in morality mail is a machete cappy and he says you know men who are american hockey can have a show and then my at the other will say it havent. Homma. Be it as you had. Because you had the show to get have a show because that be i leave. A hurried where clearly they him what you are hard. Because you know while im while i will have the full spell in what ive. Been am in the middle of that i mena. If i see the i will mushroom has a. Ladder we have add to secular jews and women fear hard but the feel. They have. To let you can and to at the listed we have here have had to work theres been business relationships not just in n. M. C. But in other companies as well i think whats evident is that the problems are then m. C. May be replicated in other companies such as for mabel or which also has had on the clare debt so there is definitely questions around you know how this relates to some of the other companies and where theres the you know where does the rot spread how far does the rot spread because it certainly doesnt seem to be just. You know specific and him seem to like it when you tell around this whole must be assured shes former colleague about the expansion of the u. A. E. Based companies particularly in health care and. Let me of the west so on what interested him was the pace of this expansion and therefore whether there was any one of influence behind this exponential growth i understood from some things but. There was actually thrown away for no reason for exam

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