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Fletcher Agency
Melissa Chinchillo |
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English | |
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THE KEY MAN
The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale
Arif Naqvi and his Dubai-based Abraaj Group were darlings of the global financial elite. A daring investor modeled, in his own words, in the tradition of the mythical Sinbad, Naqvi raised billions of dollars as an impact investor - working with the likes of the U.N., the Gates Foundation, the Clinton Global Initiative, and the U.S. and U.K. governments, not to mention the world's financial, political and media elite - to plow much-needed money into the unstable and emerging markets that traditional western investors were too ignorant or scared to touch.
The swashbuckling Naqvi - a Pakistani born on the wrong side of the tracks who clawed his way into the company of Gulf sheikhs and Davos bankers - would not only make those investments, he would get double-digit returns on them. And he would simultaneously lift the prospects of the poor and troubled regions in which he invested.
The only problem was, as Simon Clark and William Louch reveal, that Arif Naqvi was a liar and a thief. Their reporting exposed the fraud at the core of Naqvi's operation and that resulted in the collapse of Abraaj, the largest private equity failure in history. Arif Naqvi and several executives of the firm have been indicted by the U.S. Department of Justice, which relied directly upon Simon and Will's reporting, along with a complement of phone taps and covert surveillance now coming to light. Naqvi is currently in London awaiting extradition to the US. He is being held on the largest bail bond ever ordered in the United Kingdom.
THE KEY MAN is a world-spanning business tale with a distinctively international energy. As readers are transported from Dubai to Davos and beyond, they'll follow how money has moved around the planet in the last 20 years, on whose backs this massive wealth has been made, from whose pockets it's been siphoned - and how elitist optimism enabled a righteous charlatan to plunder some of the world's most notable coffers.
Clark and Louch shine a light on the increasingly powerful black box world of the private equity industry and on the realities of emerging markets and investment, giving us a much-needed examination of the development-as-capitalism ethos espoused by some of the world's most powerful political and financial bedfellows.
ABOUT THE AUTHORS:
The authors are reporters at The Wall Street Journal in London. Simon Clark is a British citizen and has been a journalist since 2000, reporting on a wide range of financial, economic and political subjects that led him as far as the poppy fields of Afghanistan, the copper mines of Congo and to lots of banks and financial institutions in and around London. William Louch is a reporter covering private equity in London.
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Book
Published 2021-07-06 by HarperCollins |