In September 2017, Arif Naqvi was speaking in New York, trying to raise billions for a new fund.
As the head of private equity firm The Abraaj Group, Naqvi was a pioneer in the field of impact investing, which sought to make money for investors while doing good for the world. He spent the week rubbing shoulders with some of the world’s richest and most powerful people, including Bill Gates, Bill Clinton, and then-Goldman Sachs CEO Lloyd Blankfein.
But as he sought to impress the world’s movers and shakers, one of his employees was about to bring it all down, write Simon Clark and Will Louch in their new book, “The Key Man: The True Story of How The Global Elite was Duped by a Capitalist Fairy Tale” (Harper Business), out now.
It turned out Naqvi had allegedly taken around $780 million from his funds, $385 million of which remains unaccounted for. He is now facing a potential 291 years in jail. And all…