All powerful and then
Founded in 2002, Abraaj grew to become one of the world s most influential emerging-market investors. But the fund collapsed into liquidation after a group, including the Bill & Melinda Gates Foundation, sought to investigate the alleged mismanagement of money in its health-care fund. Naqvi himself was forced to surrender control after it was revealed that the firm s main revenues hadn t covered operating costs for years.
While Naqvi, who suffers from poor health, has made his home in the UK since 2018, there is no doubt that the US is where most of the loss and harm has resulted from the relevant activity, Judge Emma Arbuthnot said in her ruling.