![]() ![]() Simon Clark and Will Louch, two British journalists, have writte A well-researched and well-written account explaining the rise and fall of one of the largest private equity funds in the world, Abraaj, founded by Arif Navqi, in the heyday of globalization in the 2000's and early 2010's all the way to its undoing and the recent London court ruling in 2021. As of this writing, Arif Navqi is sitting at his home in Kensington, London, with an ankle monitor, awaiting extradition to the United States. Clark and Louch shine a light on efforts to clean up global capital flows even as opaque private equity firms amass trillions of dollars and offshore tax havens cast a veil of secrecy which prevents regulators, investors and citizens from understanding what’s really going on in the finance industry.moreĪ well-researched and well-written account explaining the rise and fall of one of the largest private equity funds in the world, Abraaj, founded by Arif Navqi, in the heyday of globalization in the 2000's and early 2010's all the way to its undoing and the recent London court ruling in 2021. Populated by a cast of larger-than-life characters and moving across Asia, Africa, Europe and America, The Key Man is the story of how the global elite was duped by a capitalist fairytale. ![]() In April 2019-months after their exposé broke-Naqvi was arrested on charges of fraud and racketeering, and faces up to 291 years in jail. Digging into the claims, Clark and Louch uncovered hundreds of documents and exposed the wrongdoing. In 2018, Simon Clark and Will Louch were contacted by an anonymous whistleblower who said Naqvi had swindled investors out of hundreds of millions of dollars and offered bribes to sustain his billionaire lifestyle. ![]() As Pope Francis blessed a move to harness capitalism for the good of the poor, Naqvi won the support of Obama’s administration and investors, who compared him to Tom Cruise in Mission: Impossible. Bill Gates helped him start a $1 billion fund to improve healthcare in poor countries and the UN and Interpol appointed him to boards. ![]() He persuaded politicians he could help stabilize the Middle East after 9/11 by providing jobs and guided executives to opportunities in cities they struggled to find on the map. The founder of Abraaj, a Dubai-based private-equity firm, Naqvi was the Key Man to the global elite searching for impact investments to make money and do good. He persuaded politicians he could help stabilize the Middle East after 9/11 by providing jobs and guided execut Arif Naqvi was charismatic, inspiring, and self-made-all the qualities of a successful business leader. Arif Naqvi was charismatic, inspiring, and self-made-all the qualities of a successful business leader. ![]()
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