"In this compelling story of greed, theft, and the dark underbelly of globalization and impact investing, two Wall Street Journal financial reporters investigate the shocking collapse of Abraaj-the largest private-equity failure in history-and the\ face behind its glimmering rise and catastrophic fall"--
The founder of Abraaj, a Dubai-based private-equity firm, Arif Naqvi was the key man to the global elite searching for impact investments to make money and do good. He persuaded politicians he could help stabilize the Middle East after 9/11; Bill Gates helped him start a $1 billion fund to improve healthcare in poor countries. In 2018 Clark and Louch were contacted by an anonymous whistleblower who said Naqvi had swindled investors out of hundreds of millions of dollars. After their story broke in April 2019 Naqvi was arrested on charges of fraud and racketeering, and faces up to 291 years in jail. Clark and Louch shine a light on how the global elite were duped by a fairy tale. -- adapted from jacket