Arif Naqvi's theft from Abraaj totals $385m, liquidators claim
Liquidators overseeing Abraaj Group’s insolvency now estimate chief executive officer Arif Naqvi’s alleged theft to have cost the firm $385 million, an amount significantly more than what prosecutors claimed. Naqvi is one of six former Abraaj executives who face charges stemming from the private equity’s firm’s 2018 collapse. In court papers last year, US prosecutors said Naqvi stole more than $250 million. But in a new filing on Friday, the liquidators put the losses much higher, claiming Naqvi stole $385 million from 2009 to 2018 as he moved money for his own use in more than 3,700 transactions.