Topaz Top Management Fired, Jobs Cut as Renaissance Finds Financial Fraud

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Topaz Group, which in March pulled an initial share sale inLondon, had its top management removed and jobs cut after parent Renaissance Services SAOG (RNSS)uncovered financial fraud at the company. Renaissance shares plunged. Topaz Chief Executive Officer Fazel Fazelbhoy stepped down in May after oil and gas services provider Renaissance “uncovered some serious issues” at the unit, Renaissance said in …