Authorities in the United Arab Emirates have issued arrest warrants for the founder of private equity firm Abraaj and another executive for issuing a check without sufficient funds, according to a prosecution document seen by Reuters. The public prosecutor’s office in Sharjah, an emirate in the UAE, issued the warrants against Arif Naqvi, who founded Abraaj in 2002, and fellow executive Rafique Lakhani, according to the document, which was dated 18 June. The warrants relate to a check for USD48mn, signed by Naqvi and Lakhani, and written to Hamid Jafar, another founding shareholder in Abraaj, according to a clerk in the prosecutor’s office who confirmed the validity of the document.