Free Republic

NEW YORK (Reuters) - The chief executive and a managing partner of the collapsed Dubai private equity firm Abraaj Capital Ltd were arrested on U.S. charges that they defrauded their investors, including the Bill & Melinda Gates Foundation, a federal prosecutor said on Thursday. Abraaj founder and Chief Executive Arif Naqvi was arrested in the United Kingdom last Friday, while managing partner Mustafa Abdel-Wadood was arrested at a New York hotel on Thursday, Assistant U.S. Attorney Andrea Griswold said at a hearing in Manhattan federal court. Abdel-Wadood appeared at the hearing and pleaded not guilty to securities fraud, wire fraud...

Republican congressional primary candidate Niger Innis of Nevada lost his bid to represent the 4th Congressional district of the Silver State, but he questions the outcome because of the number of votes received by a candidate who did no campaigning.(SNIP) Hardy defeated the tea party candidate by 10 percentage points. The Nevada assemblyman received 43 percent of the vote, Innis received 33 percent, Mike Monroe captured 22 percent of the vote, and Carlos Poliak won 2 percent.