Description :

Arif Masood Naqvi?(born 13 July 1960 in?Karachi, Pakistan) is a Pakistani businessman who was the founder and chief executive of the Dubai-based private equity firm,?The Abraaj Group?and?Aman Foundation. The Abraaj Group was founded in 2002 and operated in Africa, Asia, Latin America, Middle East, Turkey and Central Asia.Arif Naqvi, founder of Abraaj Group, faced notoriety for orchestrating a colossal financial scam. Operating in the realm of private equity, Naqvi misled investors, inflating the value of assets and diverting funds to cover extensive debts. His fraudulent activities, exposed in 2018, led to the collapse of Abraaj, once a prominent emerging market-focused investment firm. Naqvi's deceitful practices tarnished investor trust, resulting in legal battles and investigations. The case underscored the importance of stringent regulatory oversight and due diligence in the financial industry to prevent such high-profile scams and protect investors from substantial financial losses.