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Arif Naqvi

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On 8 March 2023, Naqvi lost his challenge to extradition from London to the United States, as a UK High Court Judge refused Naqvi permission to bring a judicial review against the 2021 approval of his extradition to the United States. This means that the extradition order authorized by the then UK
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and Aman Foundation. The Abraaj Group was founded in 2002 and operated in Africa, Asia, Latin America, Middle East, Turkey and Central Asia, and is currently in liquidation due to accusations of fraud.
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by a London court pending a hearing for his extradition to the United States, with restrictions including a record £15 million GBP (US$ 20 million) surety and other conditions amounting to effective
1067: 178:. As of March 2018, Arif Naqvi has stepped down as CEO of The Abraaj Group, as the company has become the subject of multiple investigations regarding its fund management practices. 826: 163:
in Saudi Arabia, the Kingdom's largest trading company. In 1994 he started an investment firm in Dubai called Cupola with $ 50,000 of his own savings. In 1999, Naqvi purchased
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Naqvi is known as a collector of art and for establishing a collection of Middle Eastern art. In 2018, art owned by Naqvi was sold through Christie's for £2 million.
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published an article that Abraaj Group allegedly paid US$ 20 million to Pakistani businessman, Navaid Malik, for his assistance in securing cooperation of the
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In February 2018, Naqvi was accused by Andrew Farnum at the Bill and Melinda Gates Foundation, and other investors of misappropriating funds, leading to the
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during 2013, after receiving funds from companies and individuals including at least £2 million in April 2013 from Sheikh Nahyan bin Mubarak al-Nahyan, a
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In September 2017, "while Arif was in New York, the employee broke ranks and sent an anonymous email to investors"…"about years of wrongdoing at Abraaj".
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In 2008, Naqvi and his family established the Aman Foundation, a local, not-for-profit trust in Pakistan, focusing on health, nutrition and education.
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Naqvi was born in a business family. His father was a small plastics manufacturing company owner. He completed his early education from
122:(born 13 July 1960) is a Pakistani-Kittian businessman, who was the founder and chief executive of the Dubai-based private equity firm, 1532: 387: 521: 272:
adjourned the matter Naqvi extradition until a point of law was resolved in another similar high-profile extradition case - that of
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In December 2022, the 'point of law' appeal, was denied and the High Court also refused permission for Modi, to appeal to the
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will be executed, and Naqvi will be sent to a US prison to undergo his trial on fraud allegations by US authorities.
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Arif Naqvi v. Turkish Airlines, Inc., No. Civ.A.14-1066, F. Supp. 3d, 2015 WL 7575198, at *2 (D.D.C. Feb. 23, 2015)
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Naqvi is a founding commissioner of the Business & Sustainable Development Commission (BSDC), alongside
1068:"Fugitive Nirav Modi loses bid to appeal against extradition to India in UK Supreme Court - Times of India" 798: 171:
region's first leveraged buyout. Naqvi then sold off pieces of the company for a total of $ 173 million.
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On 5 April 2019, Naqvi was arrested by authorities in the United Kingdom after he was charged by the
626:"What the sale of one man's multi-million dollar collection tells us about Middle Eastern art today" 174:
In 2002, Naqvi founded Abraaj Capital, and in 2012 the company merged with Aureos Capital to become
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wanted to know why over $ 200 million in cash was sitting with the fund, and not invested.
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In January 2018, Bill and Melinda Gates Foundation, and three other investors in Naqvi's
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revealed in its article results of its investigation that Abraaj founder Arif Naqvi's
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The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy
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and he was ordered to pay associated legal costs of £150,247, for the application.
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of The Abraaj Group. The company also came under investigation by regulators in
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personally fined Naqvi $ 135.6 million for his role in the collapse of Abraaj.
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while on £15 million bail as he fought extradition from the UK to the US.
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recruited forensic accountants to investigate where their money had gone.
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with fraud, misleading investors and misappropriating $ 230 million from
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for the sale of its investment in Pakistan's utility, Karachi Electric.
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and Naqvi was sentenced to three years imprisonment in absentia in the
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In July 2019, two Abraaj entities were fined US$ 315 million by the
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Arif Naqvi's Abraaj Group & the Geopolitics of Karachi Electric
1197:"The spectacular rise and fall of private equity tycoon Arif Naqvi" 856:"A firm too good to be true, Billion-dollar debts, family pay-offs" 79: 1300:"President of Pakistan confers Sitara-e-Quaid-e-Azam on Al Abbar" 1277: 906: 790: 184: 167:, for $ 102 million, with $ 4.1 million in equity, making it the 63: 388:"The outsider: how race and politics spelled the end for Abraaj" 748:
Alloway, Tracy; Nair, Dinesh; Martin, Matthew (14 June 2018).
430:"Former Abraaj CEO Denied Bail After Being Called Flight Risk" 716: 600:"Dubai should get a grip on Abraaj before somebody else does" 215: 67: 493:"A financial fairytale: how one man fooled the global elite" 1359:"CIVIL ACTION Plaintiff - Eastern District of Pennsylvania" 1094:"Abraaj's Naqvi fined $ 135.6 Million Over Firm's Collapse" 690: 688: 168: 827:"Dubai regulator probes Abraaj over alleged mismanagement" 485: 775: 685: 548:"Mideast Private Equity Pioneer Looks Beyond the Unrest" 1327:"Dubai entrepreneur Arif Naqvi wins philanthropy award" 799:"Leading Private Equity Firm Accused of Misusing Funds" 513: 921: 1543:
Prisoners and detainees of the United Arab Emirates
1274:"Aman Foundation | Transforming Lives |" 1146:"BBC Two - Billion Dollar Downfall: The Dealmaker" 1528:Saint Kitts and Nevis people of Pakistani descent 1488:Pakistani expatriates in the United Arab Emirates 958:"Abraaj executives facing criminal charges in US" 747: 1459: 1043:"UK judge delays Arif Naqvi's extradition to US" 894: 825:Arnold, Tom; Cornwell, Alexander (4 July 2018). 315:government minister who is also a member of the 1406:Icarus: The Life and Death of the Abraaj Group 824: 771:"Abraaj Investors Hire Auditor to Trace Money" 762: 185:Allegations, criminal charges and legal issues 159:in Karachi. In the early 1990s, he joined The 1548:Prisoners and detainees of the United Kingdom 1538:Naturalised citizens of Saint Kitts and Nevis 768: 1493:Private equity and venture capital investors 307:(PTI) which is led by former Prime Minister 769:Louch, William; Ballard, Ed; Clark, Simon. 743: 741: 130: 977:"Former CEO Gets Record $ 20 Million Bail" 323:. Naqvi was under UK house arrest and was 31: 1558:21st-century Saint Kitts and Nevis people 1194: 16:British Pakistani businessman (born 1960) 1498:Alumni of the London School of Economics 738: 657: 623: 520:MacBride, Elizabeth (23 November 2015). 519: 319:royal family and Chairman of Pakistan's 1418: 974: 750:"The Downfall of Dubai's Star Investor" 697:"Private equity's biggest Ponzi scheme" 694: 571: 454: 242:. In early May 2019, Naqvi was granted 1460: 1041:Shah, Murtaza Ali (13 November 2021). 796: 722: 545: 1324: 1220: 1118: 874: 850: 797:Thomas, Landon Jr (2 February 2018). 1553:Saint Kitts and Nevis businesspeople 1040: 597: 658:Gleadell, Colin (15 October 2019). 624:Gleadell, Colin (30 October 2018). 572:Tirmizi, Farooq (5 November 2018). 455:Tirmizi, Farooq (5 November 2018). 281:Supreme Court of the United Kingdom 236:United States Department of Justice 13: 1195:Blackburn, Tom (11 January 2023). 377: 288:Dubai Financial Services Authority 255:Dubai Financial Services Authority 14: 1574: 1445: 1047:The News International (Pakistan) 695:Primack, Dan (29 November 2021). 240:Abraaj Growth Markets Health Fund 205:Bill and Melinda Gates Foundation 194:Abraaj Growth Markets Health Fund 151:Arif Naqvi began his career with 1533:Pakistani white-collar criminals 875:Clark, Simon (16 October 2018). 723:Getlen, Larry (21 August 2021). 1351: 1337: 1318: 1292: 1266: 1240: 1214: 1188: 1163: 1138: 1112: 1086: 1060: 1034: 1023: 1012: 994: 968: 950: 868: 844: 818: 651: 351:In 2007, Naqvi was granted the 338: 261:on charges of financial fraud. 1408:, Biteback Publishing (2021), 1325:Bladd, Joanne (29 June 2015). 1171:"Arif Naqvi | Financial Times" 617: 591: 574:"The heir to Agha Hasan Abedi" 565: 546:Hamdan, Sara (27 April 2011). 539: 467: 457:"The heir to Agha Hasan Abedi" 448: 422: 1: 1513:Recipients of Sitara-i-Imtiaz 1508:Karachi Grammar School alumni 1119:Clark, Simon (28 July 2022). 415: 276:, an Indian diamond tycoon. 1523:21st-century philanthropists 1385:Simon Clark and Will Louch, 975:Wiggins, Kaye (3 May 2019). 7: 1503:Businesspeople from Karachi 1454:- Pakistan Shia News Agency 1221:Tobin, Sam (8 March 2023). 598:Kane, Frank (31 May 2018). 10: 1579: 1483:Pakistani chief executives 1379: 221:Also in October 2018, the 141:London School of Economics 104:London School of Economics 1478:Pakistani philanthropists 1389:, Harper Business (2021) 479:www.theamanfoundation.org 346: 146: 109: 99: 89: 75: 42: 30: 23: 1563:Pakistani art collectors 461:Profit by Pakistan Today 131:Early life and education 881:The Wall Street Journal 212:provisional liquidation 755:Bloomberg Businessweek 357:Government of Pakistan 137:Karachi Grammar School 94:Karachi Grammar School 861:Le Monde diplomatique 325:electronically tagged 286:In January 2022, the 84:Saint Kitts and Nevis 1518:Pakistani fraudsters 1304:Emirates News Agency 313:United Arab Emirates 259:United Arab Emirates 165:Inchcape Middle East 1452:Arif Naqvi Archives 1125:The Financial Times 393:The Express Tribune 224:Wall Street Journal 139:and graduated from 1401:ex-CEO, Arif Naqvi 1074:. 15 December 2022 1072:The Times of India 804:The New York Times 552:The New York Times 293:In July 2022, the 264:In November 2021, 199:In February 2018, 1437:978-969-402-642-8 1395:978-0-06-299621-3 1100:. 27 January 2022 854:(November 2019). 120:Arif Masood Naqvi 117: 116: 47:Arif Masood Naqvi 25:Arif Masood Naqvi 1570: 1441: 1373: 1372: 1370: 1368: 1363: 1355: 1349: 1348: 1341: 1335: 1334: 1322: 1316: 1315: 1313: 1311: 1296: 1290: 1289: 1287: 1285: 1276:. 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Index


Karachi
Sindh
Pakistan
Saint Kitts and Nevis
Karachi Grammar School
London School of Economics
The Abraaj Group
Karachi Grammar School
London School of Economics
Arthur Andersen
American Express
Olayan Group
Inchcape Middle East
MENA
The Abraaj Group
World Bank
Bill and Melinda Gates Foundation
provisional liquidation
Dubai
Wall Street Journal
Sharif brothers
United States Department of Justice
bail
house arrest
Dubai Financial Services Authority
United Arab Emirates
High Court
Philippa Whipple
Nirav Modi

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