A new book reveals how Arif Naqvi, a Pakistani conman, defrauded Microsoft co-founder Bill Gates, one of the world's wealthiest individuals.

1. Arif Naqvi, a Pakistani
businessman, stole $100 million
from Microsoft's Bill Gates.
A new book reveals how Arif Naqvi, a Pakistani conman, defrauded
Microsoft co-founder Bill Gates, one of the world's wealthiest
individuals.
Arif Naqvi of the Abraaj Group, a private equity firm, has emerged as a
leader in impact investment, presenting himself as a savior of the
poor.

2. During 2017, one of Naqvi's staffers was about to drop the ball on one
of his frauds, just as he was getting comfy in his billion-dollar seat.
Bill Gates was duped by Naqvi.
Simon Clark and Wim Wenders' book "The Key Man: The True Story
of How the Global Elite was Duped by a Capitalist Fairy Tale" is a true
story about how the global elite was duped by a capitalist fairy tale.
According to The New York Post, the book details how Naqvi was able
to drain $780 million from his coffers, with $385 million remaining
unaccounted for.
Naqvi cozied up to millionaires like Bill Gates at crucial events like
Davos, hoping to create a name for himself in the world of
philanthropy.
Both Gates and Naqvi had a lot to talk about at Davos, according to
the authors, and later decided to collaborate on a family planning
program in Pakistan. The Gates Foundation provided $100 million to
Naqvi for this reason, with the goal of establishing hospitals and clinics
in impoverished countries.
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A new book reveals how Arif Naqvi, a Pakistani conman, defrauded
Microsoft co-founder Bill Gates, one of the world's wealthiest
individuals.

3. Arif Naqvi of the Abraaj Group, a private equity firm, has emerged as a
leader in impact investment, presenting himself as a savior of the
poor.
During 2017, one of Naqvi's staffers was about to drop the ball on one
of his frauds, just as he was getting comfy in his billion-dollar seat.
Bill Gates and Arif Naqvi pose for a photo: Indiatimes provided this
uncredited source. Uncredited
Bill Gates was duped by Naqvi.
The writers of "The Key Man: The True Story of How the Global Elite
was Duped by a Capitalist Fairy Tale" reveals how the man
successfully conned a number of wealthy people.
According to The New York Post, the book details how Naqvi was able
to drain $780 million from his coffers, with $385 million remaining
unaccounted for.
Naqvi cozied up to millionaires like Bill Gates at crucial events like
Davos, hoping to create a name for himself in the world of
philanthropy.
Both Gates and Naqvi had a lot to talk about at Davos, according to
the authors, and later decided to collaborate on a family planning
program in Pakistan. The Gates Foundation provided $100 million to
Naqvi for this reason, with the goal of establishing hospitals and clinics
in impoverished countries.
Indeed, Gates' support helped Naqvi win an additional $900 million for
the Abraaj Growth Markets Health Fund.

4. The arrangement was described as a "major co-investment
collaboration" by Gates, who was invited as a guest of honor to one of
Naqvi's dinners at his home.
Naqvi now faces a sentence of 291 years in prison after a staffer sent
an anonymous email to investors, essentially triggering the "biggest
fraud" in history.
Naqvi's espionage service
The truth was that Naqvi was stealing money from Gates through a
"secretive treasury department" that only a few of his employees knew
about.
Regulators ordered Naqvi to keep millions of dollars in a bank account
in the event of an emergency. The account was found to be
continuously close to being empty, and it was just recently reloaded
with funds before regulators could examine it.
Not long after that, it was drained. After afterward, one of Naqvi's
employees informed him of a $100 million deficit.
Naqvi continued to pay himself large sums, such as $53.75 million,
even after this. According to the book, he also pocketed $154 million
of the revenues for himself, denying investors the opportunity to profit.
Naturally, Andrew Farnum, a fund manager at the Gates Foundation,
became suspicious. Previous funds showed no progress, yet the
Gates Foundation continued to receive new requests.

5. An employee of Abraaj disclosed the organization's dirty operations
while Farnum was pursuing Naqvi.
The email encouraged all stakeholders to ask the proper questions,
suggesting that they would be surprised to learn what they did.
During the investigation by the Gates Foundation, Naqvi participated
in a debate with Gates, where he apparently received only harsh
criticism from the Microsoft co-founder.
The Wall Street Journal reported in 2018 that Naqvi had shifted $660
million in investor funds without their knowledge. On April 10, 2019,
the individual was apprehended in London.
He has been ordered to be extradited to New York to face charges.
Naqvi, on the other hand, maintains his "innocence" even when things
go wrong.