NMC Founder Blames Fraud at Collapsed Firm on His Ex-CEO (1)

NMC Health Plc’s founder said he was the victim of fraud at his own firm because it was perpetrated behind his back by a former executive and his associates, according to court documents in a London lawsuit.

Bavaguthu Raghuram Shetty, the hospital operator’s founder, said he was misled by NMC’s former chief executive officer and chief financial officer, in his defense filings in the suit with audit firm Alvarez & Marsal Europe LLP and NMC’s joint administrators.

Lawyers for Shetty said he believed that NMC was a “successful and robust business” and that he saw Prasanth Manghat “almost ...