Story of a Pakistani businessman, Arif Naqvi, who robbed the Global Elite including Bill Gates

Arif Naqvi was born in 1960 in Karachi and attended the London School of Economics for higher education

Arif Naqvi

US journalists Simon Clark and Will Louch have claimed in their latest book that a Pakistani businessman named Arif Naqvi conned the billionaire Microsoft co-founder Bill Gates for USD 100 million.

Naqvi was once the head of a private equity firm called The Abraaj Group. His company used to make money for investors while doing good for the world.

Arif spent time with the super-rich and influential people, including Bill Gates, Bill Clinton, and former Goldman Sachs CEO Lloyd Blankfein.

However, the new book, “The Key Man: The True Story of How The Global Elite was Duped by a Capitalist Fairy Tale,” revealed that Naqvi was a conman who used to fool the world’s wealthiest people.

As per the book, Naqvi had drawn off USD 780 million from his funds, of which USD 385 million he still remains unaccounted for. 

Currently, Naqvi has been facing a long jail term. In 2017, when Arif was in New York, his employee sent an anonymous email to investors about years of wrongdoing at Abraaj. The information was a bombshell that led to the “largest collapse of a private equity firm in history.”

Arif Naqvi was born in 1960 in Karachi and studied at Karachi’s highly selective grammar school. He then attended the London School of Economics for higher education.

He established Abraaj in 2003 after raising $118 million, much of it from “Middle Eastern governments, royals, and traders.”

In 2010, Naqvi was invited by the Former US President, Barack Obama, along with more than 200 other Muslim business leaders to a Presidential Summit on Entrepreneurship. Following this, the US government-funded nearly $150 million in Abraaj after two months.

The book further stated, “Arif started a $100 million charitable organization called the Aman Foundation to improve health care and education in Pakistan following billionaire philanthropists like Bill and Melinda Gates.”

Arif Naqvi lived a luxurious life, flying around on “a private jet with a personalized tail number — M-ABRJ.”

He used to attend Davos and similar conferences, where he met Bill Gates and other billionaires.

Arif Naqvi

“Bill and Arif agreed that their charitable foundations would work together on a family planning program in Pakistan.”

Gates Foundation gave USD 100 million to Naqvi to invest in health facilities in emerging markets. The investment helped Naqvi get more millions from other investors.

By then, Naqvi had already started misusing the money with a “secretive treasury department” that not even most of his employees knew about it.

“Abraaj was made up of more than three hundred companies based mostly in tax havens around the world.”

Following the investigation of his employee’s email, Naqvi was accused by US prosecutors of running a criminal organization. He was arrested on the 10th of April 2019 at London’s Heathrow Airport.

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