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The strange case of the cricket match that helped fund Imran Khan’s political rise

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The strange case of the cricket match that helped fund Imran Khan’s political rise

Financial Times

At the height of his success, the Pakistani tycoon Arif Naqvi invited cricket superstar Imran Khan and hundreds of bankers, lawyers and investors to his walled country estate in the Oxfordshire village of Wootton for weekends of sport and drinking. The host was the founder of the Dubai-based Abraaj Group, then one of the largest private equity firms operating in emerging markets, with billions of dollars under management.

At the “Wootton T20 Cup”, over which Naqvi presided from 2010 to 2012, the main event was a cricket tournament between teams with invented names: the Peshawar Perverts or the Faisalabad Fothermuckers. They played on an immaculate pitch amid 14 acres of formal gardens and parkland at Wootton Place, Naqvi’s 17th-century residence. Veteran cricket commentator Henry Blofeld attended along with expert umpires and film crews.

“You can choose to play in order to impress or make a fool of yourself, or alternatively just to be an innocent bystander,” Naqvi wrote in an invitation to the event. The guests were asked to pay between £2,000 and £2,500 each to attend, with the money going to unspecified “philanthropic causes”, Naqvi said.

It is the type of charity fundraiser repeated up and down the UK every summer. What makes it unusual is that the ultimate benefactor was a political party in Pakistan. The fees were paid to Wootton Cricket Ltd, which, despite the name, was in fact a Cayman Islands-incorporated company owned by Naqvi and the money was being used to bankroll Pakistan Tehreek-e-Insaf, Khan’s political party. Funds poured into Wootton Cricket from companies and individuals, including at least £2mn from a United Arab Emirates government minister who is also a member of the Abu Dhabi royal family.

Pakistan forbids foreign nationals and companies from funding political parties, but Abraaj emails and internal documents seen by the Financial Times, including a bank statement covering the period between February 28 and May 30 2013 for a Wootton Cricket account in the UAE, show that both companies and foreign nationals as well as citizens of Pakistan sent millions of dollars to Wootton Cricket — before money was transferred from the account to Pakistan for the PTI.

The funding of the party is at the centre of a years-long investigation by the Election Commission of Pakistan, an inquiry that has taken on even greater importance as Khan — who lost office in April — plots a political comeback.

But back in 2013, Khan — a World Cup-winning cricket captain — was riding a wave of popular support and campaigning to upend Pakistan’s politics on an anti-corruption ticket. He presented himself to the electorate as a democratic reformer — born in Pakistan and with experience of living in the west — who could break the hold of the political family dynasties that had dominated the country for decades.

Although Khan lost the 2013 general election to longtime rival Nawaz Sharif, his party became the third largest in the National Assembly. Naqvi’s star was also rising. His private equity firm was expanding and winning new investors. He became a regular fixture at World Economic Forum meetings in Davos.

In July 2017, Pakistan’s Supreme Court removed Sharif from office over corruption allegations. Khan won the election in July 2018. As prime minister he became increasingly critical of the west, praising Afghanistan’s Taliban when US forces withdrew in 2021, and visiting Vladimir Putin in Moscow on the day Russian forces invaded Ukraine in February.

The Election Commission of Pakistan has been investigating the funding of the PTI for more than seven years. In January, the ECP’s scrutiny committee issued a damning report in which it said the PTI received funding from foreign nationals and companies and accused it of under-reporting funds and concealing dozens of bank accounts. Wootton Cricket was named in the report, but Naqvi wasn’t identified as its owner.

In April, Khan stood down after losing a parliamentary vote of no confidence, triggered in part by rising inflation. He has accused the US of orchestrating the vote and is now attempting to stage a political return to contest a general election due to take place by October 2023.

That re-election effort means that although the Naqvi funding took place almost a decade ago, the controversy around it, and the final findings of the election commission, are likely to be at the forefront of Pakistan politics for some time.

While it has previously been reported that Naqvi funded Khan’s party, the ultimate source of the money has never before been disclosed. Wootton Cricket’s bank statement shows it received $1.3mn on March 14 2013 from Abraaj Investment Management Ltd, the fund management unit of Naqvi’s private equity firm, boosting the account’s previous balance of $5,431. Later the same day, $1.3mn was transferred from the account directly to a PTI bank account in Pakistan. Abraaj expensed the cost to a holding company through which it controlled K-Electric, the power provider to Karachi, Pakistan’s largest city.

A further $2mn flowed into the Wootton Cricket account in April 2013 from Sheikh Nahyan bin Mubarak al-Nahyan, a member of Abu Dhabi’s royal family, government minister and chair of Pakistan’s Bank Alfalah, according to the bank statement and a copy of the Swift transfer details.

Naqvi then exchanged emails with a colleague about transferring $1.2mn more to the PTI. Six days after the $2mn arrived in the Wootton Cricket bank account, Naqvi transferred $1.2mn from it to Pakistan in two instalments. Rafique Lakhani, the senior Abraaj executive responsible for managing cash flow, wrote in an email to Naqvi that the transfers were intended for the PTI. Sheikh Nahyan didn’t respond to requests for comment.

“Like other populists, Khan is made of Teflon,” says Uzair Younus, director of the Pakistan initiative at the Atlantic Council, a Washington-based research group. “But his opponents will try to use the foreign funding controversy to weaken the argument that he is not corrupt,” he adds, and to encourage the election commission to “punish him and his party”.

A useful ally

Naqvi, 62, was born into a Karachi business family. After studying at the London School of Economics he spent the 1990s working in Saudi Arabia and Dubai and started Abraaj in 2002, building it into an investment powerhouse. With offices in Dubai, London, New York and across Asia, Africa and Latin America, the company raised billions of dollars from the Bill & Melinda Gates Foundation, the US administration of Barack Obama, the British and French governments and other investors.

Well-connected, Naqvi liked to impress. John Kerry — a speaker at one Abraaj event — was approached by the company about working with it after he served as US secretary of state. Naqvi met Britain’s Prince Charles and was active in one of his charities, the British Asian Trust. He was a board member of the UN Global Compact, which advises the UN secretary-general, and sat alongside former Nissan chair Carlos Ghosn on the board of the Interpol Foundation, which raises funds for the global police organisation.

In Washington he was seen as a useful ally. The Obama administration pledged $150mn to an Abraaj fund investing in Middle Eastern companies: a press release said that the partnership would help turn the US president’s promise to improve economic relations with Islamic nations into a reality. Some even saw him as a possible future political leader in Pakistan, which he once described as “a country not known for transparency”, before adding that Abraaj “did everything by the book” during its control of K-Electric.

“We avoided every single point where you would have had to come into contact with government — even though you were a utility — and have to pay someone something,” he said.

K-Electric was Abraaj’s single largest investment. But as the private equity firm ran into financial difficulties in 2016, Naqvi struck a deal to sell control of the power company to Chinese state-controlled Shanghai Electric Power for $1.77bn. Political approval for the deal in Pakistan was important and Naqvi lobbied the governments of both Sharif and Khan for backing. In 2016, he authorised a $20mn payment for Pakistan politicians to gain their support, according to US public prosecutors who later charged him with fraud, theft and attempted bribery.

The payment was allegedly intended for Nawaz Sharif and his brother Shehbaz, who replaced Khan as prime minister in April. The brothers have denied any knowledge of the matter. In January 2017, Naqvi hosted a dinner for Nawaz Sharif at Davos. After Khan became prime minister, Naqvi met him. While in office Khan criticised officials for delaying the sale of K-Electric but the deal has still not been completed.

Abraaj collapsed in 2018 after investors including the Gates Foundation started investigating whether the company was misusing money in a fund intended to buy and build hospitals across Africa and Asia. Abraaj said it was managing assets of about $14bn at the time. In 2019, US prosecutors indicted Naqvi and five of his former colleagues. Two former Abraaj executives have since pleaded guilty. Naqvi denies the charges.

Naqvi was arrested at London’s Heathrow airport in April 2019 after returning from Pakistan and faces up to 291 years in jail if found guilty of the US charges. Khan’s telephone number was included on a list of contacts he handed to police — a fact mentioned by lawyers representing the US government during Naqvi’s extradition trial in London.

His appeal against extradition to the US is expected to conclude later this year. But he has had to pay £15mn for bail and has hefty ongoing legal expenses. Wootton Place was sold to a hedge fund manager in 2020 for £12.25mn. Naqvi and his lawyer did not respond to requests for comment on this story.

Moving money around

In 2012 Khan visited Wootton Place. In a written response to questions from the FT, the former cricketer said he had gone to “a fundraising event which was attended by many PTI supporters”. Blofeld, the cricket commentator, recalls that Khan “was persuaded to take the field” at Wootton. “It was extraordinary to see how he still had the knack of bowling those fast inswingers,” he says.

Naqvi, a self-described cricket purist, provided the bats, balls, osteopaths, masseurs, food, accommodation and clothing. He literally wrote the rules for the matches. Ball tampering — banned in cricket — was permitted in matches at Wootton because “it is important to encourage innovation and experimentation in cricket, as what is considered illegal today may be de rigueur tomorrow,” Naqvi once wrote to guests.

It was a critical time for Khan to gather funds ahead of the election scheduled for May 2013, and Naqvi worked closely with other Pakistani businessmen to raise money for his campaign. The largest entry in Wootton Cricket’s bank account in the months before the election was the $2mn from Sheikh Nahyan, now the UAE’s minister for tolerance. He is also an investor in Pakistan.

After Lakhani, the Abraaj executive responsible for cash flow, told Naqvi in an email that the sheikh’s money had arrived, Naqvi replied that he should send “1.2 million to PTI”. In another email to Lakhani after the sheikh’s money entered the Wootton Cricket account Naqvi wrote: “do not tell anyone where funds are coming from, ie who is contributing”.

“Sure sir,” Lakhani responded. He wrote that he would transfer $1.2mn from Wootton Cricket to the PTI’s account in Pakistan. Then after considering sending the funds to the PTI via Naqvi’s personal account, Lakhani proposed sending the money in two instalments to a personal account for businessman Tariq Shafi in Karachi and an account for an entity called the Insaf Trust in Lahore. Although the ownership of the Insaf Trust is unclear, the emails state that the final destination was the PTI. “Don’t eff this up rafiq,” Naqvi wrote in another email.

On May 6 2013, Wootton Cricket transferred a total of $1.2mn to Shafi and the Insaf Trust. Lakhani wrote in an email to Naqvi that the transfers were for the PTI. Khan confirmed that Shafi donated to the PTI. “It is for Tariq Shafi to answer as to from where he received this money,” Khan said in response to the FT. Shafi didn’t respond to requests for comment.

‘Prohibited funding took place’

The ECP investigation into the funding of Khan’s party was triggered when Akbar S Babar, who helped establish the PTI, filed a complaint in December 2014. Although thousands of Pakistanis worldwide sent money for the PTI, Babar insists that “prohibited funding took place”.

In his written response, Khan said that neither he nor his party was aware of Abraaj providing $1.3mn through Wootton Cricket. He also said he was “not aware” of the PTI receiving any funds that originated from Sheikh Nahyan. “Arif Naqvi has given a statement which was filed before the Election Commission also, not denied by anyone, that the money came from donations during a cricket match and the money as collected by him was sent through his company Wootton Cricket,” Khan wrote.

Khan said he was waiting for the verdict of the election commission’s investigation. “It will not be appropriate to prejudge PTI.”

In its January report, the election commission said Wootton Cricket had transferred $2.12mn to the PTI but didn’t reveal the original source of the money. Naqvi has acknowledged his ownership of Wootton Cricket and denied any wrongdoing. In a statement, he told the election commission that: “I have not collected any fund from any person of non-Pakistani origin, company [public or private] or any other prohibited source.”

The bank statement for Wootton Cricket tells a different story. It shows that Naqvi transferred three instalments directly to the PTI in 2013 adding up to a total of $2.12mn. The largest was the $1.3mn from Abraaj which company documents show was transferred to Wootton Cricket but charged to its holding company for K-Electric.

The impact of the scandal could yet hit Khan’s re-election ambitions. In July he renewed his call for an early poll after the PTI won a critical victory in by-elections in Punjab, Pakistan’s most populous province. On Twitter, he called the Election Commission of Pakistan “totally biased”.

At the same time prime minister Shehbaz Sharif has urged the commission to publish its verdict in the PTI case, saying that the delays caused by political infighting had given Khan “a free pass despite his repeated & shameless attacks on state institutions”.

Yet the Atlantic Council’s Younus says that Khan’s loyal supporters won’t be moved whatever the outcome. They “do not and will not care. In fact, Khan may claim that the story is further evidence that foreign powers are leveraging global media to conspire against him.”

For Babar, who helped found the PTI, the controversy is proof that Khan has fallen short of the ideals they set out to champion in politics. “He had the opportunity of a lifetime and he blew it,” Babar says. “Our cause was reform, change — introduce the values in our politics that we espoused publicly.”

Instead, he says, “[Khan’s] morality compass in a political sense went haywire”.

https://www.ft.com/content/de29dd83-8fa9-40a2-aff6-5996f1557d0d
 
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The strange case of the cricket match that helped fund Imran Khan’s political rise

Financial Times

At the height of his success, the Pakistani tycoon Arif Naqvi invited cricket superstar Imran Khan and hundreds of bankers, lawyers and investors to his walled country estate in the Oxfordshire village of Wootton for weekends of sport and drinking. The host was the founder of the Dubai-based Abraaj Group, then one of the largest private equity firms operating in emerging markets, with billions of dollars under management.

At the “Wootton T20 Cup”, over which Naqvi presided from 2010 to 2012, the main event was a cricket tournament between teams with invented names: the Peshawar Perverts or the Faisalabad Fothermuckers. They played on an immaculate pitch amid 14 acres of formal gardens and parkland at Wootton Place, Naqvi’s 17th-century residence. Veteran cricket commentator Henry Blofeld attended along with expert umpires and film crews.

“You can choose to play in order to impress or make a fool of yourself, or alternatively just to be an innocent bystander,” Naqvi wrote in an invitation to the event. The guests were asked to pay between £2,000 and £2,500 each to attend, with the money going to unspecified “philanthropic causes”, Naqvi said.

It is the type of charity fundraiser repeated up and down the UK every summer. What makes it unusual is that the ultimate benefactor was a political party in Pakistan. The fees were paid to Wootton Cricket Ltd, which, despite the name, was in fact a Cayman Islands-incorporated company owned by Naqvi and the money was being used to bankroll Pakistan Tehreek-e-Insaf, Khan’s political party. Funds poured into Wootton Cricket from companies and individuals, including at least £2mn from a United Arab Emirates government minister who is also a member of the Abu Dhabi royal family.

Pakistan forbids foreign nationals and companies from funding political parties, but Abraaj emails and internal documents seen by the Financial Times, including a bank statement covering the period between February 28 and May 30 2013 for a Wootton Cricket account in the UAE, show that both companies and foreign nationals as well as citizens of Pakistan sent millions of dollars to Wootton Cricket — before money was transferred from the account to Pakistan for the PTI.

The funding of the party is at the centre of a years-long investigation by the Election Commission of Pakistan, an inquiry that has taken on even greater importance as Khan — who lost office in April — plots a political comeback.

But back in 2013, Khan — a World Cup-winning cricket captain — was riding a wave of popular support and campaigning to upend Pakistan’s politics on an anti-corruption ticket. He presented himself to the electorate as a democratic reformer — born in Pakistan and with experience of living in the west — who could break the hold of the political family dynasties that had dominated the country for decades.

Although Khan lost the 2013 general election to longtime rival Nawaz Sharif, his party became the third largest in the National Assembly. Naqvi’s star was also rising. His private equity firm was expanding and winning new investors. He became a regular fixture at World Economic Forum meetings in Davos.

In July 2017, Pakistan’s Supreme Court removed Sharif from office over corruption allegations. Khan won the election in July 2018. As prime minister he became increasingly critical of the west, praising Afghanistan’s Taliban when US forces withdrew in 2021, and visiting Vladimir Putin in Moscow on the day Russian forces invaded Ukraine in February.

The Election Commission of Pakistan has been investigating the funding of the PTI for more than seven years. In January, the ECP’s scrutiny committee issued a damning report in which it said the PTI received funding from foreign nationals and companies and accused it of under-reporting funds and concealing dozens of bank accounts. Wootton Cricket was named in the report, but Naqvi wasn’t identified as its owner.

In April, Khan stood down after losing a parliamentary vote of no confidence, triggered in part by rising inflation. He has accused the US of orchestrating the vote and is now attempting to stage a political return to contest a general election due to take place by October 2023.

That re-election effort means that although the Naqvi funding took place almost a decade ago, the controversy around it, and the final findings of the election commission, are likely to be at the forefront of Pakistan politics for some time.

While it has previously been reported that Naqvi funded Khan’s party, the ultimate source of the money has never before been disclosed. Wootton Cricket’s bank statement shows it received $1.3mn on March 14 2013 from Abraaj Investment Management Ltd, the fund management unit of Naqvi’s private equity firm, boosting the account’s previous balance of $5,431. Later the same day, $1.3mn was transferred from the account directly to a PTI bank account in Pakistan. Abraaj expensed the cost to a holding company through which it controlled K-Electric, the power provider to Karachi, Pakistan’s largest city.

A further $2mn flowed into the Wootton Cricket account in April 2013 from Sheikh Nahyan bin Mubarak al-Nahyan, a member of Abu Dhabi’s royal family, government minister and chair of Pakistan’s Bank Alfalah, according to the bank statement and a copy of the Swift transfer details.

Naqvi then exchanged emails with a colleague about transferring $1.2mn more to the PTI. Six days after the $2mn arrived in the Wootton Cricket bank account, Naqvi transferred $1.2mn from it to Pakistan in two instalments. Rafique Lakhani, the senior Abraaj executive responsible for managing cash flow, wrote in an email to Naqvi that the transfers were intended for the PTI. Sheikh Nahyan didn’t respond to requests for comment.

“Like other populists, Khan is made of Teflon,” says Uzair Younus, director of the Pakistan initiative at the Atlantic Council, a Washington-based research group. “But his opponents will try to use the foreign funding controversy to weaken the argument that he is not corrupt,” he adds, and to encourage the election commission to “punish him and his party”.

A useful ally

Naqvi, 62, was born into a Karachi business family. After studying at the London School of Economics he spent the 1990s working in Saudi Arabia and Dubai and started Abraaj in 2002, building it into an investment powerhouse. With offices in Dubai, London, New York and across Asia, Africa and Latin America, the company raised billions of dollars from the Bill & Melinda Gates Foundation, the US administration of Barack Obama, the British and French governments and other investors.

Well-connected, Naqvi liked to impress. John Kerry — a speaker at one Abraaj event — was approached by the company about working with it after he served as US secretary of state. Naqvi met Britain’s Prince Charles and was active in one of his charities, the British Asian Trust. He was a board member of the UN Global Compact, which advises the UN secretary-general, and sat alongside former Nissan chair Carlos Ghosn on the board of the Interpol Foundation, which raises funds for the global police organisation.

In Washington he was seen as a useful ally. The Obama administration pledged $150mn to an Abraaj fund investing in Middle Eastern companies: a press release said that the partnership would help turn the US president’s promise to improve economic relations with Islamic nations into a reality. Some even saw him as a possible future political leader in Pakistan, which he once described as “a country not known for transparency”, before adding that Abraaj “did everything by the book” during its control of K-Electric.

“We avoided every single point where you would have had to come into contact with government — even though you were a utility — and have to pay someone something,” he said.

K-Electric was Abraaj’s single largest investment. But as the private equity firm ran into financial difficulties in 2016, Naqvi struck a deal to sell control of the power company to Chinese state-controlled Shanghai Electric Power for $1.77bn. Political approval for the deal in Pakistan was important and Naqvi lobbied the governments of both Sharif and Khan for backing. In 2016, he authorised a $20mn payment for Pakistan politicians to gain their support, according to US public prosecutors who later charged him with fraud, theft and attempted bribery.

The payment was allegedly intended for Nawaz Sharif and his brother Shehbaz, who replaced Khan as prime minister in April. The brothers have denied any knowledge of the matter. In January 2017, Naqvi hosted a dinner for Nawaz Sharif at Davos. After Khan became prime minister, Naqvi met him. While in office Khan criticised officials for delaying the sale of K-Electric but the deal has still not been completed.

Abraaj collapsed in 2018 after investors including the Gates Foundation started investigating whether the company was misusing money in a fund intended to buy and build hospitals across Africa and Asia. Abraaj said it was managing assets of about $14bn at the time. In 2019, US prosecutors indicted Naqvi and five of his former colleagues. Two former Abraaj executives have since pleaded guilty. Naqvi denies the charges.

Naqvi was arrested at London’s Heathrow airport in April 2019 after returning from Pakistan and faces up to 291 years in jail if found guilty of the US charges. Khan’s telephone number was included on a list of contacts he handed to police — a fact mentioned by lawyers representing the US government during Naqvi’s extradition trial in London.

His appeal against extradition to the US is expected to conclude later this year. But he has had to pay £15mn for bail and has hefty ongoing legal expenses. Wootton Place was sold to a hedge fund manager in 2020 for £12.25mn. Naqvi and his lawyer did not respond to requests for comment on this story.

Moving money around

In 2012 Khan visited Wootton Place. In a written response to questions from the FT, the former cricketer said he had gone to “a fundraising event which was attended by many PTI supporters”. Blofeld, the cricket commentator, recalls that Khan “was persuaded to take the field” at Wootton. “It was extraordinary to see how he still had the knack of bowling those fast inswingers,” he says.

Naqvi, a self-described cricket purist, provided the bats, balls, osteopaths, masseurs, food, accommodation and clothing. He literally wrote the rules for the matches. Ball tampering — banned in cricket — was permitted in matches at Wootton because “it is important to encourage innovation and experimentation in cricket, as what is considered illegal today may be de rigueur tomorrow,” Naqvi once wrote to guests.

It was a critical time for Khan to gather funds ahead of the election scheduled for May 2013, and Naqvi worked closely with other Pakistani businessmen to raise money for his campaign. The largest entry in Wootton Cricket’s bank account in the months before the election was the $2mn from Sheikh Nahyan, now the UAE’s minister for tolerance. He is also an investor in Pakistan.

After Lakhani, the Abraaj executive responsible for cash flow, told Naqvi in an email that the sheikh’s money had arrived, Naqvi replied that he should send “1.2 million to PTI”. In another email to Lakhani after the sheikh’s money entered the Wootton Cricket account Naqvi wrote: “do not tell anyone where funds are coming from, ie who is contributing”.

“Sure sir,” Lakhani responded. He wrote that he would transfer $1.2mn from Wootton Cricket to the PTI’s account in Pakistan. Then after considering sending the funds to the PTI via Naqvi’s personal account, Lakhani proposed sending the money in two instalments to a personal account for businessman Tariq Shafi in Karachi and an account for an entity called the Insaf Trust in Lahore. Although the ownership of the Insaf Trust is unclear, the emails state that the final destination was the PTI. “Don’t eff this up rafiq,” Naqvi wrote in another email.

On May 6 2013, Wootton Cricket transferred a total of $1.2mn to Shafi and the Insaf Trust. Lakhani wrote in an email to Naqvi that the transfers were for the PTI. Khan confirmed that Shafi donated to the PTI. “It is for Tariq Shafi to answer as to from where he received this money,” Khan said in response to the FT. Shafi didn’t respond to requests for comment.

‘Prohibited funding took place’

The ECP investigation into the funding of Khan’s party was triggered when Akbar S Babar, who helped establish the PTI, filed a complaint in December 2014. Although thousands of Pakistanis worldwide sent money for the PTI, Babar insists that “prohibited funding took place”.

In his written response, Khan said that neither he nor his party was aware of Abraaj providing $1.3mn through Wootton Cricket. He also said he was “not aware” of the PTI receiving any funds that originated from Sheikh Nahyan. “Arif Naqvi has given a statement which was filed before the Election Commission also, not denied by anyone, that the money came from donations during a cricket match and the money as collected by him was sent through his company Wootton Cricket,” Khan wrote.

Khan said he was waiting for the verdict of the election commission’s investigation. “It will not be appropriate to prejudge PTI.”

In its January report, the election commission said Wootton Cricket had transferred $2.12mn to the PTI but didn’t reveal the original source of the money. Naqvi has acknowledged his ownership of Wootton Cricket and denied any wrongdoing. In a statement, he told the election commission that: “I have not collected any fund from any person of non-Pakistani origin, company [public or private] or any other prohibited source.”

The bank statement for Wootton Cricket tells a different story. It shows that Naqvi transferred three instalments directly to the PTI in 2013 adding up to a total of $2.12mn. The largest was the $1.3mn from Abraaj which company documents show was transferred to Wootton Cricket but charged to its holding company for K-Electric.

The impact of the scandal could yet hit Khan’s re-election ambitions. In July he renewed his call for an early poll after the PTI won a critical victory in by-elections in Punjab, Pakistan’s most populous province. On Twitter, he called the Election Commission of Pakistan “totally biased”.

At the same time prime minister Shehbaz Sharif has urged the commission to publish its verdict in the PTI case, saying that the delays caused by political infighting had given Khan “a free pass despite his repeated & shameless attacks on state institutions”.

Yet the Atlantic Council’s Younus says that Khan’s loyal supporters won’t be moved whatever the outcome. They “do not and will not care. In fact, Khan may claim that the story is further evidence that foreign powers are leveraging global media to conspire against him.”

For Babar, who helped found the PTI, the controversy is proof that Khan has fallen short of the ideals they set out to champion in politics. “He had the opportunity of a lifetime and he blew it,” Babar says. “Our cause was reform, change — introduce the values in our politics that we espoused publicly.”

Instead, he says, “[Khan’s] morality compass in a political sense went haywire”.

https://www.ft.com/content/de29dd83-8fa9-40a2-aff6-5996f1557d0d


This getting some attention now.
 
This getting some attention now.

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The same article also mentions Abraaj Naqvi had sent $20 million to Nawaz and Shahbaz Sharif as well. But no the lifafa media will not mention this fact and only target the PTI
 
The same article also mentions Abraaj Naqvi had sent $20 million to Nawaz and Shahbaz Sharif as well. But no the lifafa media will not mention this fact and only target the PTI

Thanks for pointing that out, in specific:

K-Electric was Abraaj’s single largest investment. But as the private equity firm ran into financial difficulties in 2016, Naqvi struck a deal to sell control of the power company to Chinese state-controlled Shanghai Electric Power for $1.77bn. Political approval for the deal in Pakistan was important and Naqvi lobbied the governments of both Sharif and Khan for backing. In 2016, he authorised a $20mn payment for Pakistan politicians to gain their support, according to US public prosecutors who later charged him with fraud, theft and attempted bribery.

The payment was allegedly intended for Nawaz Sharif and his brother Shehbaz, who replaced Khan as prime minister in April. The brothers have denied any knowledge of the matter. In January 2017, Naqvi hosted a dinner for Nawaz Sharif at Davos. After Khan became prime minister, Naqvi met him
 

They are so desperate after the recent humiliations that any they can run with will be made into sprint. There was no Foreign funding, the ECP double counted some of the money and all the money came through the state bank. The Nooras and PPP have no evidence of their own monies coming from abroad and as per the SC directive all party funding has to be investigated. Bajwa promised these crooks IK would be banned as per this case, but the ECP has nothing and the most they can do is to fine the PTI.
 
Thanks for pointing that out, in specific:

K-Electric was Abraaj’s single largest investment. But as the private equity firm ran into financial difficulties in 2016, Naqvi struck a deal to sell control of the power company to Chinese state-controlled Shanghai Electric Power for $1.77bn. Political approval for the deal in Pakistan was important and Naqvi lobbied the governments of both Sharif and Khan for backing. In 2016, he authorised a $20mn payment for Pakistan politicians to gain their support, according to US public prosecutors who later charged him with fraud, theft and attempted bribery.

The payment was allegedly intended for Nawaz Sharif and his brother Shehbaz, who replaced Khan as prime minister in April. The brothers have denied any knowledge of the matter. In January 2017, Naqvi hosted a dinner for Nawaz Sharif at Davos. After Khan became prime minister, Naqvi met him

When SHA was making his presser, did none of the journalists ask him about the $20mn bribe.
 
Leaders of the ruling coalition from the Pakistan Democratic Movement (PDM) and Pakistan Peoples Party (PPP) met with senior officials of the Election Commission Pakistan (ECP), including the chief election commissioner (CEC) on Friday, in an effort to convince the electoral body to announce its verdict in the prohibited funding case involving the Pakistan Tehreek-e-Insaaf (PTI).

Addressing a press conference after the meeting, the Pakistan Muslim League-Nawaz (PML-N) leader and former prime minister Shahid Khaqan Abbasi said that the joint delegation spoke with ECP officials and urged them to “decide the case of prohibited foreign funding as soon as possible”.

“The prohibited funding case has been ongoing for eight years,” he said and added that, “the election law says that if a party takes money from a foreign individual, it has to be declared”.

The PML-N leader said that “the people of Pakistan have the right to know where Imran Khan was taking money from” and maintained that the “evidence is very clear”.

“Money was sourced from outside and used for political purposes in Pakistan,” said Abbasi. He also alleged that “Imran Khan hid records from the election commission” and that the PTI chairman was “trying to pressurise through personal attacks”.

It may be noted that the case had been filed by Akbar S Babar, who is a dissident but a founding member of the PTI, and has been pending since November 14, 2014.

Babar had alleged serious financial irregularities in the party's funding from Pakistan and abroad.

Earlier in June, the electoral watchdog had listed the foreign funding case under ‘prohibited funding’ and reserved its judgment a week later.

The renewed vigour in the ruling coalition’s demand has come as it suffered a heavy blow in the Punjab by-poll upset and subsequent Punjab chief minister’s election.

Express Tribune
 
LAHORE: PTI leader Farrukh Habib Friday said that all the funds that the party received from Wootton Cricket Ltd, a Cayman Islands-incorporated company owned by Pakistani businessman Arif Naqvi, were transferred though a bank.

"All the records [related to those transactions] are available," the party's central deputy information secretary told a press conference after a Financial Times report revealed that Naqvi "transferred three instalments directly to the PTI in 2013 adding up to a total of $2.12m" — which were of foreign origin.

The PTI leader said that there was no case against Naqvi or his Abraaj Group in 2012 and that the businessman had given £20 million to PML-N supremo Nawaz Sharif and his brother, Prime Minister Shehbaz Sharif, as "bribes".

"Naqvi also hosted a dinner for Nawaz [in Davos], they should respond to these claims as well," he demanded.

The party has been embroiled in a foreign funding case since 2014, filed by PTI's founding member Akbar S Babar. An Election Commission of Pakistan (ECP) scrutiny committee later in 2022 revealed that the PTI hid funds worth millions of rupees from the ECP — but the party rejects these claims.

In his press conference today, Habib said that a "media trial" is conducted against the party every now and then related to foreign funding.

"The case against PTI is not related to foreign funding, rather it is of prohibited funding [...] foreign funds are used for working against an incumbent government; that's not the case here," he said.

Habib said that his party laid the foundation of fundraising in Pakistan. He added that Overseas Pakistanis send $32 billion annually to the country and they also donate to PTI.

He reiterated that the verdicts of PTI, PPP, and PML-N's foreign funding cases be issued on the same date as he demanded that the ECP demonstrate "responsible" behaviour.

The PTI leader claimed that the PML-N hid 112 accounts from the election commission, PPP hid 11 and did not give records of Rs3.6 million to the ECP.

Before Habib, PTI PTI Senior Vice President Fawad Chaudhry defended Naqvi, who is facing corruption charges in the United States.

The PTI's senior vice president asked local media not to portray "our people as villains", as when a Pakistani Muslim's influence crosses a certain benchmark, it is not welcomed by the "Israeli lobby".

"Arif Naqvi's Abraaj Group became a $14 billion company. And when any Muslim and especially a Pakistani Muslim's influence crosses a certain limit, then it isn't welcomed by the Israeli lobby".

"Why should we become part of a propaganda campaign when we know it's Israel-backed?"

Abbasi slams Khan, demands details of transactions

Talking to the media outside the ECP office in Islamabad, senior PML-N leader Shahid Khaqan Abbasi said that the government has requested the election commission to reveal the details of funds that Khan's party received so people can see it for themselves.

"Yesterday, an institution like the Financial Times reported that Arif Naqvi held a match in London. Arif Naqvi told the participants that their participation money would go to a charity."

The FT reported that the guests — who participated in Naqvi's "Wootton T20 Cup" — were asked to pay between £2,000 and £2,500 each.

The former prime minister alleged that Naqvi donated Rs55 million into the bank accounts of PTI. "...but PTI provided no trace of those transactions."

He further alleged that Khan's party received funds from companies in the United States that are established in California and Texas. "If Khan's hands are clean, he should provide details [of transactions] since day one."

https://www.thenews.com.pk/latest/9...arif-naqvis-wotton-club-received-through-bank
 
Thanks for pointing that out, in specific:

K-Electric was Abraaj’s single largest investment. But as the private equity firm ran into financial difficulties in 2016, Naqvi struck a deal to sell control of the power company to Chinese state-controlled Shanghai Electric Power for $1.77bn. Political approval for the deal in Pakistan was important and Naqvi lobbied the governments of both Sharif and Khan for backing. In 2016, he authorised a $20mn payment for Pakistan politicians to gain their support, according to US public prosecutors who later charged him with fraud, theft and attempted bribery.

The payment was allegedly intended for Nawaz Sharif and his brother Shehbaz, who replaced Khan as prime minister in April. The brothers have denied any knowledge of the matter. In January 2017, Naqvi hosted a dinner for Nawaz Sharif at Davos. After Khan became prime minister, Naqvi met him

The irony of it.

Think Shehbaz Sharif needs better people to write his tweets than Musadiq

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Could it get more damning? The charade of self-proclaimed honesty & righteousness has been busted by the Financial Times story that details the flow of foreign funding into PTI bank accounts. Imran Niazi is a bunch of massive contradictions, lies & hypocrisy. <br><br>Screaming facts!</p>— Shehbaz Sharif (@CMShehbaz) <a href="https://twitter.com/CMShehbaz/status/1553003425318768641?ref_src=twsrc%5Etfw">July 29, 2022</a></blockquote>
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Think Shehbaz Sharif needs to sit down and drink a cold glass of water.....

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">I urge Imran Khan to file a defamation case against Financial Times for publishing an indicting article. If he doesn't & I am sure he wouldn't, it will prove one more time how brazenly he is lying & cheating the people of Pakistan.</p>— Shehbaz Sharif (@CMShehbaz) <a href="https://twitter.com/CMShehbaz/status/1553066488675942409?ref_src=twsrc%5Etfw">July 29, 2022</a></blockquote>
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Think Shehbaz Sharif needs to sit down and drink a cold glass of water.....

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">I urge Imran Khan to file a defamation case against Financial Times for publishing an indicting article. If he doesn't & I am sure he wouldn't, it will prove one more time how brazenly he is lying & cheating the people of Pakistan.</p>— Shehbaz Sharif (@CMShehbaz) <a href="https://twitter.com/CMShehbaz/status/1553066488675942409?ref_src=twsrc%5Etfw">July 29, 2022</a></blockquote>
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Wasn't he accused of taking a $20m bribe.
 
damn, so this guy wins in a province where he played for a team called peshawar perverts.... shows you what he thinks about pakistan or its people.....

pathans should be offended by this
 
All funds from Arif Naqvi were kosher and disclosed, says Imran

• Likens ex-Abraaj head’s fall to BCCI closure; says COAS call to US official means ‘country is getting weaker’
• ‘Orders’ Punjab govt to expedite Ravi riverfront, Lahore business district projects

KARACHI/LAHORE: Admitting that his party had indeed received funds from businessman Arif Naqvi, former prime minister and PTI Chairman Imran Khan claimed on Thursday that all the funds came through banking channels and were disclosed in the party’s audited accounts.

His remarks came a day after the Financial Times published a story claiming that Mr Naqvi’s company “bankrolled the PTI” despite Pakistani laws forbidding foreign nationals and companies from funding political parties.

Talking to ARY News, Mr Khan called Arif Naqvi “a bright star” and a “rapidly rising Pakistani star in the global financial world,” whose rise among powerful quarters “would have greatly benefitted Pakistan”.

“I had known him [Mr Naqvi] for a long time [and] he gave a lot of money to Shaukat Khanum [hospital]. He used to live in Dubai and supported our fund-raising events,” said Mr Khan.

Mr Naqvi organised two fund raising dinners in 2012 for the PTI. The first one was in London where he organised a cricket match at his own ground and the second event was in Dubai where he invited top businessmen, added Mr Khan.

“This is called political fund raising. All over the world money is raised like this and PTI was the first party [in Pakistan] to raise money through political fundraising,” Mr Khan said, while adding that the party has data of 40,000 donors who gave the money. Calling the charges against Mr Naqvi “tragic,” the PTI chairman likened his fall to that of the Bank of Credit and Commerce International (BCCI).

He added that as per his knowledge, in Mr Naqvi’s, case no one has suffered any loss and everyone got their money back.

Mr Khan also demanded the ECP probe the funding of PPP and PML-N along with the PTI, as he claimed that the two parties “raise money through funding from big businessmen”

“After coming into the government, they favour those businessmen. This is called crony capitalism.”

“I had learned that in one instance, Nawaz Sharif used his party for money laundering and the PPP embezzled [Pakistan] embassy’s fund in the US and moved it to their party’s account,” the former prime minister claimed.

He added that if the government thinks it can disqualify him in the foreign funding case, the PPP and the PML-N leaders would also go to jail.

Commenting on the report that Chief of Army Staff General Qamar Bajwa contacted US Deputy Secretary of State Wendy Sherman for expediting the IMF loan program, Mr Khan said that this shows that neither the foreign governments nor the IMF trust the government and “that is why the army chief took the responsibility”.

“If the army Chief was contacting the US and seeking help, it means that the country was getting weaker.”

However, he added that the US’ help would not come without any reciprocal demands and added that he feared “those demands would compromise Pakistan’s national security”.

Linking the current economic crisis with political instability, Mr Khan said that when his government was toppled as a result of a conspiracy it led to political instability that tanked the economy.

“You have seen that everything has been downhill since then. [All economic indicators, be it the] industry, tax collection, exports or remittances, have gone down,” he said while adding that the only way to bring back political stability was free and fair elections.

Mega projects

Earlier, addressing a meeting via video link, Mr Khan directed the provincial government to focus on the swift completion of two mega projects — the Ravi Riverfront Urban Development and the Lahore Central Business District Development projects, as well as other projects launched during his tenure as the country’s prime minister.

Presided by Punjab Chief Minister Parvez Elahi, the meeting was attended by former federal ministers Fawad Chaudhry, Moonis Elahi, Shah Mehmood Qureshi, Farrukh Habib, Dr. Shahbaz Gill and Asad Umar. The head of the Ravi Urban Development Authority (RUDA), Lahore Central Business District Development Authority (LCBDDA) and other senior officials attended the meeting.

The former PM said the Pervaiz Elahi-led PTI government would leave no stone unturned to ensure timely completion of all mega projects, including those launched by RUDA and LCBDDA because these projects of public interest cannot be left in the middle.

“I have already given directions to the Punjab government in this regard,” he added.

Addressing the meeting, the Punjab chief minister said in a bid to ensure transparency in public welfare projects and schemes, the government would evolve a comprehensive and foolproof monitoring system. “I would personally monitor the progress on these projects regularly,” he said.

DAWN
 
I find it interesting that playing for a cricket team with a alcahol sponsor is deemed wrong, especially in Pakistan. But playing a cricket match which illegal funds an election campaign plus the team is named as Peshawar Perverts and Faisalabad futher muckers is all right....

What an insult to the country, playing in a team that insults its own city and its people
 
Fazlur Rehman on the topic.

He said all the mischief of the previous government were being exposed one by one. “The prohibited funding case is the most serious among them. Funds were collected from Indians and Israelis,” he alleged.

The PDM chief said the Election Commission of Pakistan should not delay its decision in the foreign funding case. He said that the foreign funding case was a big issue. “The leader, as well as the party, would be done away with if the decision into the case is fairly announced,” he said.

The Maulana said the matter should be thoroughly checked from where the funds were collected and brought. “It would expose the real foreign agents,” he said while referring to a Financial Times newspaper story about the foreign funding case of the PTI.
 
The irony of it.

Think Shehbaz Sharif needs better people to write his tweets than Musadiq

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Could it get more damning? The charade of self-proclaimed honesty & righteousness has been busted by the Financial Times story that details the flow of foreign funding into PTI bank accounts. Imran Niazi is a bunch of massive contradictions, lies & hypocrisy. <br><br>Screaming facts!</p>— Shehbaz Sharif (@CMShehbaz) <a href="https://twitter.com/CMShehbaz/status/1553003425318768641?ref_src=twsrc%5Etfw">July 29, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

No mention of their own misdemeanours incase someone asks.

Lets refresh some memories, shall we?

==

KARACHI: Arif Naqvi, the embattled founder of Dubai-based Abraaj Group, allegedly paid $20 million to businessman Navaid Malik for his assistance in securing cooperation of Sharif brothers for K-Electric sale, claims an article published in The Wall Street Journal (WSJ) on Tuesday.

The article alleges Malik was tasked with securing cooperation from Nawaz Sharif — former prime minister — and Shahbaz Sharif – former chief minister Punjab — to help Naqvi sell Abraaj’s stake in K-Electric. The Government of Pakistan owns a 24.6 per cent stake in the Karachi-based power utility.

After reviewing company documents and emails, WSJ claims that Omar Lodhi — partner at Abraaj — in October 2015 informed Naqvi of Malik’s assurance that former chief minister Shahbaz Sharif was “willing to give a strong endorsement” of the K-Electric deal to Chinese bidders.

The email also attributes the businessman saying it is “important for him to share every detail with the brothers and get their blessings as well as their instructions as to how this money [$20 million] should be distributed,” such as “a portion to charity” or “a portion to the election fund kitty”.


Abraaj’s undoing began in February when an article from WSJ reported that investors were questioning the use of their investments destined for company’s healthcare fund. Naqvi set up a healthcare fund by securing commitments from Bill and Melinda Gates Foundation and other Western Institutions. The fund’s investments include Islamabad Diagnostic Centre in Pakistan and hospital chain Quality Care India.

The article claims that, “documents from liquidators, auditors and investors show that Abraaj moved investor money meant for hospitals and companies into accounts that paid its own expenses, salaries and loans. Abraaj founder Arif Naqvi denies any wrongdoing and says the transfers were appropriate.”

The article which highlights some of the known details of the fund’s collapse include using investor’s money to pay for its own expenses, borrowing money against its own stakes in its funds and a highly unstable business model. The article alleges that, “Abraaj has defaulted on more than $1 billion of debt.”

The firm also allegedly cooked its books when Gates Foundation asked Abraaj for bank statements of the accounts that held money for the healthcare fund. Following the request on Nov 30, 2017, Abraaj borrowed $140m from Air Arabia and transferred $29m from its own treasury in to the healthcare fund’s account on Dec 5, 2017. However, after providing investors with a letter from Commercial Bank of Dubai confirming the presence of funds [$170m] in healthcare account, the company repaid $140m to Air Arabia and transferred $10m into Abraaj Treasury on Dec 13, 2017.

During investigations conducted in 2018, “lawyers for investors in the fund wrote to Abraaj stating that the balance of the fund had been just $16,186 on Dec 1, 2017 and $9.98m on Dec 15 and that Abraaj’s transfer of the Air Arabia money to the fund was ‘plainly improper.

The firm was able to attract massive investments for its use of private capital to solve social problems in the emerging markets but has damaged the trust in the entire movement after the fallout. The undoing of the fund has also raised questions on Dubai’s regulatory environment.

The article also alleges that Naqvi transferred more than $200m to his personal accounts, companies linked to him, his family and his former assistant.

Naqvi denies WSJ allegations

Naqvi, however claims that, he was “perfectly entitled to direct” funds from Abraaj and claims that there was nothing untoward about those transfers to his personal accounts or his family. Payments were recorded as his personal liability to the company, Naqvi said.

In his statement, Naqvi said that he denies being part of any conversation that involved a payment to anyone in political office to facilitate the sale of K-Electric. He said Malik was an Abraaj adviser on a variety of activities and that the contract was part of a lengthy discussion about the terms of that role. He said the final agreement “ensured that no conflict of interest would occur.” He said he called it “explosive” due to a reference to the potential sale of K-Electric, which was confidential at the time.

Naqvi said he was entitled to draw down funds from Abraaj, including for his sons and The Modist, an online luxury-clothing retailer started by his former assistant Ghizlan Guenez. No payments were made directly to Ms Guenez, he said. His sons declined to comment. The Modist said Naqvi is a personal investor in the company.

Naqvi said, “Abraaj did not transfer any loans from Air Arabia into the healthcare fund to conceal money missing from the fund since money was always available to the fund on a demand deposit basis.” He said Abraaj used money from the healthcare fund “on a temporary basis for general corporate purposes.”

Published in Dawn, October 18th, 2018
 
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After British daily Financial Times (FT) published a report investigating how the PTI accrued funds through cricket matches organised under Wootton Cricket Ltd — a company owned by Abraaj Group founder Arif Naqvi — PML-N leader Mohammad Zubair said on Saturday that this was a moment for PTI chief Imran Khan to “come clean” by accounting for his party’s funds and challenging the FT story in a court.

Addressing a press conference in Islamabad, Zubair also called on the Supreme Court to take suo motu notice and summon Imran in the eight-year-long prohibited funding case, of which the FT story was a “small part”.

Zubair’s statements are the latest in a string of criticism of the PTI over the prohibited funding case and demands by the ruling coalition for the case’s closure.

The prohibited funding case, previously called the foreign funding case, was filed by Akbar S. Babar and has been pending since Nov 14, 2014. Babar, who was a founding member of the PTI but is no longer associated with it, had alleged serious financial irregularities in the party’s funding from Pakistan and abroad.

The ECP had reserved its verdict in the case last month.

The FT on Friday published a story by Simon Clark — the author of The Key Man, a book exposing dealings of business tycoon Arif Naqvi — revealing how funds collected through charity cricket matches were used for the rise of PTI.

The report says fees were paid to Wootton Cricket Ltd, which, despite the name, was in fact a Cayman Islands-incorporated company owned by Naqvi and the money was being used to bankroll the PTI.

This saw renewed calls for the conclusion of the prohibited funding case, as leaders from the ruling coalition heaped criticism on Imran and the PTI.

Among them was Prime Minister Shehbaz Sharif, who tweeted: “Could it get more damning? The charade of self-proclaimed honesty & righteousness has been busted by the Financial Times story that details the flow of foreign funding into PTI bank accounts. Imran Niazi is a bunch of massive contradictions, lies & hypocrisy.”

The prime minister also dared Imran to file a defamation suit against FT “for publishing an indicting article”.

Referring to the premier’s tweets, Zubair said during today’s press conference that he was reiterating PM Shehbaz’s calls for Imran to “account for [his party’s financing] here and file a case against FT”.

“File a case and everything will be out in the open,” he added.

Further commenting on FT story, Zubair said it simply narrated how illegal money, collected for charity, was channelled and diverted to the PTI’s account. “And it wasn’t even declared.”

Now Imran and the entire PTI leadership had an opportunity, he said.

“If you want to continue to portray yourself as the most honest, file a libel suit against FT and get an apology. And if they (FT) don’t apologise, file a case against them in a British court,” he reiterated.

‘Delays due to Imran, PTI’

Earlier in the press conference, the PML-N leader regretted that the prohibited funding case had been facing delays just because Imran and the rest of the PTI leadership were not ready to “give answers”.

He added that in 2014, when former PTI member Babar had filed the case, he had presented “very clear evidence” against the party with all relevant details, including all declared and undeclared sources of funding.

“Imran Khan claims that he is the most honest, he talks from a higher pedestal while pointing fingers at others and accusing them of evading accountability,” Zubair continued. “We say if you are the most honest, explain yourself.”

But, he claimed, Imran had been involved in hampering the case’s proceedings for years. “He at times goes to the high court and other times to the Supreme Court and get a decision [in his favour], or he manoeuvres to stop proceedings at the ECP.”

“It has been eight years now,” he said, adding that a new article would surface in the media every other day, telling tales of alleged prohibited funding to the PTI.

The PML-N leader said Imran had been telling the nation for years that Pakistan could not progress because there were different laws for the rich and poor calling for holding anyone facing allegations accountable.

“Yes there are two different laws,” Zubair said, adding that the law was different for the people and “privileged Imran Khan, also is commonly called laadla” (blue-eyed boy).

He went on to lambast Imran, saying that the PTI chief had been refusing to account for finances in the prohibited funding case.

“There is a blatant financial irregularity,” he stressed, recalling that when Imran took the country’s reign as the prime minister in 2018, he committed to initiating the process of accountability from himself and his team.

“Where is accountability now?” he questioned, as he went on to list several cases of financial irregularities against Imran and other PTI leaders.

DAWN
 
damn, so this guy wins in a province where he played for a team called peshawar perverts.... shows you what he thinks about pakistan or its people.....

pathans should be offended by this

Hehe this is what you lotas have come down to after your argument that PTI was destroying the economy was completely busted with the incompetent performance of your selected idiots now this is the card you will play he attended an event where teams were named Peshawar pervert that too allegedly

Is there any proof with a scorecard of such team names ?
 
im subscribed to this channel, he goes into detail:

<iframe width="560" height="315" src="https://www.youtube.com/embed/JRYBghF5omY" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
 
Hehe this is what you lotas have come down to after your argument that PTI was destroying the economy was completely busted with the incompetent performance of your selected idiots now this is the card you will play he attended an event where teams were named Peshawar pervert that too allegedly

Is there any proof with a scorecard of such team names ?

you do know your party admitted it?
 
So let me get this straight. In a country where it’s the norm for military to intervene and affect regime change based on funding assurances from foreign countries, it’s considers illegal if foreign citizens of Pakistani origin decide to fund a political party?


Nobody sees the hypocrisy of it all?
 
I find it interesting that playing for a cricket team with a alcahol sponsor is deemed wrong, especially in Pakistan. But playing a cricket match which illegal funds an election campaign plus the team is named as Peshawar Perverts and Faisalabad futher muckers is all right....

What an insult to the country, playing in a team that insults its own city and its people

It's so nice to see you back after your humiliation for months on end. Maybe you can actually sum up some courage to come onto the Rp thread:55::55::55:
 
you do know your party admitted it?

This is really desperate for even you. Were you waiting for something to get excited about. You know( or you should) that your crooks are in even bigger trouble because the PTI has audited accounts, you have no accounts. And you should also know that the results of all the enquiries have to be released at the same time as per SC orders.
 
im subscribed to this channel, he goes into detail:

<iframe width="560" height="315" src="https://www.youtube.com/embed/JRYBghF5omY" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

This guy is a BJP mouthpiece. I wouldn't take any of his videos seriously, especially those about Pakistan.
 
PTI leader Fawad Chaudhry:

Talking about the Financial Times' report, the PTI leader said that there was nothing new in it, reiterating that the money had been declared.

The FT on Friday published a story by Simon Clark — the author of The Key Man, a book exposing the dealings of business tycoon Arif Naqvi — revealing how funds collected through charity cricket matches were used for the rise of PTI.

The report says fees were paid to Wootton Cricket Ltd, which, despite the name, was in fact a Cayman Islands-incorporated company owned by Naqvi and the money was being used to bankroll the PTI.

This saw renewed calls for the conclusion of the prohibited funding case, as leaders from the ruling coalition heaped criticism on Imran and the PTI.

Countering it, Chaudhry said that fundraising across the world was held this way. "Imran Khan is the biggest fundraiser in Pakistan."

However, he contended, "PDM's hatred of overseas Pakistanis these days is surprising".

"At first they diminished their voting rights and are now saying that they should not be funding. But PTI loves overseas Pakistanis and is proud of them."

The leader added that PTI conducts funding this way only. "They talk about the Wootton cricket match. Imran Khan had bowled after ages in that match and people had come and donated money."

He reiterated that the money Arif Naqvi had collected was sent via legal channels, adding that PTI raised funds this way and people always gave it money because they trust Imran Khan.

DAWN
 
Moeed Pirzada debunks the story here:-

[utube]zkU381NYsmg[/utube]
 
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Please always add your analysis of what he said instead of just adding a video.

The article did take Imran's lawyers perspective which is that he received the funds, but did not know where they originated from and neither can he be expected to know this.

The article does not implicate PTI for wrongdoing as there isn't any, so to avoid being sued they played it in a smart manner.

Article refers to the prohibited funding case which is one based on false allegations, so to lend credibility to chor nooras and their own ECP, it is written to give their lies some much needed foreign based importance.
 
The article did take Imran's lawyers perspective which is that he received the funds, but did not know where they originated from and neither can he be expected to know this.

The article does not implicate PTI for wrongdoing as there isn't any, so to avoid being sued they played it in a smart manner.

Article refers to the prohibited funding case which is one based on false allegations, so to lend credibility to chor nooras and their own ECP, it is written to give their lies some much needed foreign based importance.

They are called lobbyists and they give information to these journalists. Then he does his take on the information and then creates an article.
 
Abettor in laundering $250m can’t be sadiq: Musadik Malik
Musadik Malik said Imran Khan was not a Sadiq as he was an abettor in a $250 million money-laundering case and the guarantor of Arif Naqvi indicted by the US courts in a range of cases and could get up to 290-year jail

ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik Saturday said PTI Chairman Imran Khan was an abettor in a $250 million money-laundering case and the guarantor of Arif Naqvi, the chief executive of the Abraaj Capital and Investment Company, indicted by the US courts in a range of cases and could get up to 290-year jail.

“How a person, who is the abettor and protector of the $250 million money-laundering case and the guarantor of an accused [Arif Naqvi] whom the US courts hint at awarding 290 years jail, can be Sadiq and Ameen (truthful and upright),” the minister questioned while addressing a news conference in response to a presser of PTI leader Chaudhry Fawad Hussain.

He said $250 million money-laundering stood at almost one-fourth of the Pakistan-IMF’s current $1.1 billion package, and how an “abettor and a protector of the illegal activity could be declared Sadiq and Ameen”.

He said Arif Naqvi was the person who, being the chief executive of a foreign company, established a cricket club abroad and sent foreign funds to the PTI, which as per the laws of Pakistan was illegal.

As per law of the land, he said, no political party could get funds from other than Pakistani citizens and if anyone received finances from any foreign national or company, it would be “black and illegal money”.

“Two million pounds were sent from Abraaj’s company account to Imran Khan in one go, which was illegal as no political party can get funds from any foreign country, company, corporation or foreign national. But he [Imran Khan) is still Sadiq aur Ameen,” he said.

He said a book ‘The Key Man’, authored by Simon Clark, who also reported Arif Naqvi’s money-laundering in the daily Financial Times, carried all details about Imran Khan, Abraaj Capital and Investment and the Cricket Club.

He said Simon Clark revealed in the book that the same person (Arif Naqvi) allocated $20 million to ‘buy’ the PMLN during 2013-18, but found no one in the party to protect his ‘some interests’ in Pakistan. But unfortunately, the minister said, in 2018 Arif Naqvi bought “Imran Khan for just $2 million”.

Separately, PMLN leader Mohammad Zubair Saturday asked PTI Chairman Imran Khan to “prove” he was Sadiq and Ameen.

Addressing a press conference in the federal capital, Zubair said that the coalition parties will continue to question the PTI regarding the prohibited funding case against it.

Imran Khan should now file a defamation case against the international publication in the courts of London, he dared the PTI chief.

The News PK
 
Who really is Abraaj founder Arif Naqvi?
Former prime minister of Pakistan, who has accepted for the first time that he received donations from Naqvi’s offshore company, Wooton Cricket Limited

LONDON: Abraaj founder Arif Naqvi has been in the eye of a storm after the Financial Times published an article asserting that he used a private cricket event in Oxfordshire to raise funds for Imran Khan’s Pakistan PTI and solicited funds from a sheikh of the United Arab Emirates (UAE).

The focus is also on Khan, the former prime minister of Pakistan, who has accepted for the first time that he received donations from Naqvi’s offshore company, Wooton Cricket Limited. While Khan has defended Naqvi, the news about his funding of PTI has dominated the news circuit and will continue to do so as the Election Commission of Pakistan (ECP) is likely to announce a decision on the PTI’s foreign funding case soon. Amid all the political drama, many aspects of Naqvi’s global rise and fall are unknown to the world.

Naqvi, who was born in Karachi and studied there before establishing the $14 billion Abraaj, has been at the centre of negative news even before the FT article after his arrest in London in April 2019 by Scotland Yard at the request of the US government.

What’s not known is how Naqvi went from being a billionaire and internationally recognised face of Pakistan business to being reliant on friends for ongoing financial support and internationally condemned in the media while he fights his extradition case against the US government in the UK courts.

Following the payment of a record £15 million bail which was put together by a group of his friends, he continues to remain under house arrest in London almost four years later with very restrictive bail conditions, while he fights the extradition process in London, with significantly deteriorating mental and physical health.

While the extradition process is ongoing, Naqvi cannot present his defence against the allegations in the US charges which he continues to deny whilst asserting his innocence. If found guilty in the US after a trial, Naqvi could face a sentence totalling around 300 years in jail. It is equally pertinent to note that 97% of all indictments in the US federal courts never get to trial and are settled through plea bargains, which in this case would almost inevitably result in the equivalent of a life sentence.

Rise of Abraaj

Founded by Naqvi in 2002, the Abraaj Group experienced a meteoric rise, and fifteen years later, by January 2018, it had become the largest private equity firm in the world in emerging markets. It had $14 billion of assets under management, close to 400 employees in 25 offices from Bogota to Istanbul to Nairobi and as far as Jakarta, while its central headquarters were in Dubai.

Naqvi became the first Pakistani man to break into the western world of private equity finance and, for years, was an example for even other western firms to follow. It is telling that Naqvi was the first to refer to these parts of the world not as “emerging” but as “growth” markets.

Naqvi was globally recognised as a pioneer of growth markets investing and the impact investing space and was one of the first individuals to advocate for the use of private capital to achieve public and impact-focused objectives while making attractive returns. It is reported that when the Wall Street Journal started its reporting on Abraaj in February 2018, it was close to a resolution of its issues which largely stemmed from its failure to complete the ongoing sale of its flagship investment, K-Electric to Shanghai Electric for $1.77 billion.

K-Electric was a key asset of a consortium of Middle East investors led by Abraaj, which invested nearly $1 billion between 2005 and 2012. At the time of the takeover, the firm had failed to make a profit for almost twenty years. It was suffering from endemic corruption problems, with misallocated funds often preventing energy from reaching the market and was generally perceived to be operating in an unsustainable way – losing billions in revenue.

The turnaround of K-Electric was covered by numerous business school case studies including Harvard as a successful example of public-private partnership and community building. In fact, K-Electric became the first utility in the world and the only company in Pakistan to receive an A+ in its sustainability report submission to the global reporting initiative.

The fall

Regulatory obstacles, however, and unstable political conditions forced the sale to be stalled, despite support from the governments of former prime ministers Nawaz Sharif, Shahid Khaqan Abbasi and Khan causing an unexpected gap to emerge in Abraaj’s balance sheet, which Naqvi has previously stated was a contributory factor to the circumstances that led key investors to withdraw their funds at an inopportune time for the firm.

This forced Abraaj to file for provisional liquidation in June 2018, after an unsecured Kuwaiti lender PIFSS called in its debt – at a time when both Deloitte and PwC as liquidators had largely completed that process in the Cayman Islands. It appears that neither firm has filed cases against Naqvi, who has always firmly denied any illegality or wrongdoing in his leadership of Abraaj.

Abraaj has been in the news since 2018 namely because of its meteoric loss of value and collapse with Naqvi being held responsible in what his lawyers have described as a “trial by media”. They have pointed out that although there were over 15,000 articles of a positive nature between 2002 and 2017 in the global media, the narrative has remained consistently the opposite subsequently apart from a few isolated international efforts to bring an impartial angle to the proceedings.

Philanthropic work in Pakistan and afield

What remains odd is that there has been no focus on the immense impact that Naqvi had through Abraaj on the world of finance, emerging markets, and the people it served. It was a pioneer in building sustainability into an investment, as it created its own ESG index, the first of its kind in the private equity industry globally, nor the incredible personal efforts of Naqvi in the world of philanthropy across emerging markets in general and Pakistan in particular.

Naqvi was born in Karachi in 1960 to a middle-class background. Never exchanging his Pakistani nationality for a western one as he was often entitled to by virtue of residence, Naqvi has always been intensely patriotic as evidenced by a proud photograph in his living room in London of him, aged ten in 1970, polishing shoes on Tariq Road in Karachi for passers-by under a banner that read “Defence of Pakistan Fund”, despite being dressed in the uniform of the elitist Karachi Grammar School that he attended with excellence until 1978.

He went on to graduate from the London School of Economics (LSE). After stints in the UK and Saudi Arabia, Naqvi used $50,000 in savings to build a large multinational operating and investment business called Cupola in Dubai which built its fame following the acquisition and subsequent piece-meal sale of Inchcape Middle East, which netted hundreds of millions of dollars in profits for him and his investors by 2001.

Following Cupola, Arif Naqvi built Abraaj – a private equity firm and the first of its kind in the emerging market world. Being a prominent and regular participant at events like the annual World Economic Forum gathering in Davos, his status at the nexus of East and West brought him into close contact with political leaders at home and abroad.

Despite acquiring international repute, Naqvi never lost any efforts in seeking to help Pakistan and building its reputation abroad. For his efforts in the earthquake relief efforts in 2005, President Musharraf awarded him the Sitara-i-Imtiaz.

Every time a calamity hit Pakistan, Arif Naqvi contributed, including flying in dozens of ribbed rescue boats and personnel from overseas when the Indus River overflowed in 2011 which were used by the Pakistan Navy to rescue countless people stranded by the flooding.

He remains amongst the largest donors to date to numerous charities like Shaukat Khanum Hospital, Citizens Foundation, Marie Stopes, LRBT and i-Care as well as creating endowments and campuses at educational institutions like the IBA and Hub School.

On two occasions when Pakistani sailors were captured for ransom by Somali pirates, it was his money and international diplomatic efforts which quietly secured their release.

Hardly anyone knows that when Malala Yusufzai was shot by the Taliban, it was Naqvi who flew the two other girls who were injured in that attack to the UK and financed their education until the university level.

Naqvi established the Aman Foundation in 2008 with dollar contributions totalling over 35 billion rupees from 2008 to 2018, a philanthropic not-for-profit enterprise based in Karachi. The foundation is a social enterprise focused on health and education initiatives with its flagship initiative, Aman Ambulance being the first ambulatory vehicle network in Pakistan, providing round-the-clock emergency care across Sindh.

Ambulances are reported to have saved over a million lives since the start of the programme. Its educational initiatives include Aman Tech, a vocational training institute established in 2011, which provides skills, knowledge, and hands-on training for youths, where thousands of students have been placed into jobs otherwise unattainable.

Other educational programmes include partnerships with UWC where the Foundation created an annual overseas scholarship programme for 50 Pakistani students each year.

Due to Naqvi’s continuing misfortune, the foundation was forced to close in 2022, after which the government of Sindh took as well as prominent local charities established in Karachi by other leading philanthropists over its work.

Following the Israeli invasion of Gaza in 2009, he established and funded the Mustaqbali Foundation, which took over the care of almost 1,900 orphans created by the conflict and created a four-billion-rupee endowment to look after their needs till each of them reached the age of 21 for which he was offered an honorary Palestinian nationality by President Mahmood Abbas.

In Dubai, Naqvi spent millions of dollars to build the Masood Naqvi community mosque in Emirates Hills and the Pakistan Association Community Centre as well as refurbishment work at the Dubai Pakistan consulate and Pakistan embassy-run schools to enhance the status of Pakistan abroad.

Naqvi played a key role in founding the Dubai Art Fair which has benefited artists from across the region including Pakistan and is now one of the top three art fairs globally and is used by Dubai as a showcase of culture and success.

In the UK, he built the Harrow Mosque and the Masood Community Centre which was named in honour of his late father and the project is estimated to have cost millions of pounds.

Throughout the years, he has provided unwavering support to, among others, the Developments in Literacy Trust UK, Royal College of Arts, the National Portrait Gallery, the British Pakistani Foundation, and the British Asian Trust. It is estimated that the philanthropic contributions by Arif Naqvi in Pakistan and globally exceeded Rs75 billion over the fifteen years of Abraaj.

Accolades

In 2013, he was the recipient of the Oslo Business for Peace Award, the highest form of global recognition given to individual private sector leaders for fostering peace and stability through business awarded by a jury of past Nobel prize winners. He became a Trustee of the Interpol Foundation, Board Member of the United Nations Global Compact, B Team Global Business Leader and Founding Commissioner at the Business and Sustainable Development Commission.

He was a Columbia Global Leadership Council member and helped fund the South Asia Institute at Harvard in terms of its focus on Pakistan and was made an Honorary Fellow of the Royal College of Art in London for funding deserving students from across emerging markets.

Naqvi was instrumental in launching, anchoring, and helping set up a Middle Eastern Research Centre at the LSE which included a focus on Pakistan and in 2017, he was made an honorary fellow of the LSE in recognition of his contribution and strong ties with the university.

He was the largest funder of the Acumen fund in Pakistan to support socially impactful businesses and was a board member of Endeavor, the leading entrepreneurship development NGO globally. He funded the formation and was a founding trustee of the Young Global Shapers programme at the WEF, which is today one of the leading recognition platforms for young achievers, including many from Pakistan.

There are many other efforts in the cause of Pakistan and track-2 efforts that Naqvi refuses to discuss outside courts irrespective of what has been said about him in the media. Lots of information about him is available online and many of the facts in this article have been obtained from his well-wishers, family and former colleagues: most of whom remain concerned to talk publicly given the nature of his adversary to Naqvi in these times.

His friends have pointed out that irrespective of the outcome of his case, the fact of his generosity to the causes of the common man in Pakistan should be celebrated as he was serious about making a positive difference in Pakistan. Then things went wrong for him completely and his world was put upside down by some of his own misjudgments and the machinations of others.

The News PK
 
Ex-ISI DG Pasha sends defamation notice to former PML-N MPA
Lieutenant General (retd) Shuja Pasha sent the notice to PML-N MPA Santosh Bugti

ISLAMABAD: Former DG ISI Ahmed Shuja Pasha sent a defamation notice to former PML-N MPA Santosh Bugti over the allegations he made on Twitter.

Lieutenant General (retd) Shuja Pasha sent the notice through his lawyer Asad Munir, saying, “Your statement is said to be a pack of lies.”

According to the legal notice, Shuja Pasha and his colleagues met Arif Naqvi only once in Dubai while the former ISI DG never met Imran Khan outside Pakistan, including Dubai, Pasha never met Imran Chaudhry personally and never met an Indian businessman.

The notice reads: “It’s a pity that you involved Sheikh Al-Nahyan in this bogus dispute. Shuja Pasha respects Sheikh Al-Nahyan. Sheikh Al-Nahyan never asked Shuja Pasha to meet with an Indian or Emirati businessman. I didn’t even send gifts to Arif Naqvi. This is a lie. Santosh Bugti should retract the allegations within 14 days and apologise.”

The News PK
 
Abettor in laundering $250m can’t be sadiq: Musadik Malik
Musadik Malik said Imran Khan was not a Sadiq as he was an abettor in a $250 million money-laundering case and the guarantor of Arif Naqvi indicted by the US courts in a range of cases and could get up to 290-year jail

ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik Saturday said PTI Chairman Imran Khan was an abettor in a $250 million money-laundering case and the guarantor of Arif Naqvi, the chief executive of the Abraaj Capital and Investment Company, indicted by the US courts in a range of cases and could get up to 290-year jail.

“How a person, who is the abettor and protector of the $250 million money-laundering case and the guarantor of an accused [Arif Naqvi] whom the US courts hint at awarding 290 years jail, can be Sadiq and Ameen (truthful and upright),” the minister questioned while addressing a news conference in response to a presser of PTI leader Chaudhry Fawad Hussain.

He said $250 million money-laundering stood at almost one-fourth of the Pakistan-IMF’s current $1.1 billion package, and how an “abettor and a protector of the illegal activity could be declared Sadiq and Ameen”.

He said Arif Naqvi was the person who, being the chief executive of a foreign company, established a cricket club abroad and sent foreign funds to the PTI, which as per the laws of Pakistan was illegal.

As per law of the land, he said, no political party could get funds from other than Pakistani citizens and if anyone received finances from any foreign national or company, it would be “black and illegal money”.

“Two million pounds were sent from Abraaj’s company account to Imran Khan in one go, which was illegal as no political party can get funds from any foreign country, company, corporation or foreign national. But he [Imran Khan) is still Sadiq aur Ameen,” he said.

He said a book ‘The Key Man’, authored by Simon Clark, who also reported Arif Naqvi’s money-laundering in the daily Financial Times, carried all details about Imran Khan, Abraaj Capital and Investment and the Cricket Club.

He said Simon Clark revealed in the book that the same person (Arif Naqvi) allocated $20 million to ‘buy’ the PMLN during 2013-18, but found no one in the party to protect his ‘some interests’ in Pakistan. But unfortunately, the minister said, in 2018 Arif Naqvi bought “Imran Khan for just $2 million”.

Separately, PMLN leader Mohammad Zubair Saturday asked PTI Chairman Imran Khan to “prove” he was Sadiq and Ameen.

Addressing a press conference in the federal capital, Zubair said that the coalition parties will continue to question the PTI regarding the prohibited funding case against it.

Imran Khan should now file a defamation case against the international publication in the courts of London, he dared the PTI chief.

The News PK

Did he talk about the $20mn bribe to the ganja brothers or is that just been accepted as fact by everyone and as such it comes as surprise to no one.
 
A probe into the ‘dubious’ money transferred to Pakistan by the former owner of Abraaj Group, Arif Naqvi, has revealed that a large amount in foreign funds was used for the media campaign of the former ruling Pakistan Tehreek-i-Insaf (PTI) during the 2013 general elections.

Documents obtained by the Fed*e*ral Investigation Agency (FIA), seen by Dawn, revealed that $625,000 were routed through Wootton Crick**et Limited, a Cayman Islands registered offshore firm owned by Mr Na*qvi, who is currently facing trial in a US court for a $1 billion financial fraud.

This is in addition to the $2.12m received in the PTI’s accounts directly from Wootton, as documented in the election commission’s Aug 2 verdict in the party’s prohibited funding case.

Documents show that the money was sent from Wootton Cricket’s account to “The Insaf Trust” account opened by PTI Chairman Imran Khan’s close friend, Tariq Shafi, in his capacity as the first chairman of the trust. Mr Shafi also received $575,000 in one of his personal accounts and transferred to a declared account of the PTI.

Interestingly, the declared objectives of the trust were to promote a sense of participative democracy and rule of law, democratic values and political awareness in the society, besides undertaking activities in various forms to promote health education and social order.

A clause of the trust deed included: “The trust, its funds or property or association of the trustees with the trust shall not be used for personal gain of any particular person or a group of persons.”

Other signatories of the trust’s bank account were the late Ashiq Hussain Qureshi and Hamid Zaman, both close friends of Imran Khan, and it was opened in May 2012 at the Habib Bank Ltd, Lahore Cantt branch.

On May 8, 2013, three days before the general elections, two media management firms — namely ‘Communication Spot’ and ‘Group M’ — were paid Rs36m and Rs25m, respectively, from the trust account for the PTI’s election campaign, the documents revealed. The account was used for just one transaction and has been dormant ever since.

The funding for the media campaign through the account of a charitable organisation is said to be a serious violation of the Political Parties Order 2002, besides drawing charges of money laundering. This amount remained concealed from the Election Commission of Pakistan.

Sources in the FIA disclosed that Tariq Shafi and others who had opened the trust’s account were iss*ued call-up notices thrice, but none of them turned up. They said the notices had also been issued to the two media management companies paid for the PTI’s election campaign.

“Group M”, in its response to the FIA’s call-up notice, confirmed that it had received an advance payment of Rs412m to run the PTI’s 2013 general elections campaign, out of which Rs375m were utilised and the balance was returned to the party via a cross cheque dated Sept 18, 2013. This amount was spent on media advertisements on different TV channels.

It further said the company had also provided similar services to other major political parties, including the PML-N.

The company, it said, was not aware of the sources of the funds they had invested in the media. “In short, the company had a professional relationship with PTI,” its response stated.

The FIA probe revealed the refund was made via a cross cheque in favour of the PTI in its undeclared account, titled “PTI — National Ca**m*paign Office”, maintained in then-KASB Bank — now Bank Islami Pakistan. A major chunk of Rs383m — out of the Rs412m — had been paid to the company out of this ac**c*ount in the now-defunct KASB bank. The PTI’s central office account was used to contribute just Rs3.43m.

The other company, however, sought some more time to submit its reply.

Tariq Shafi has already approached the Lahore High Court that directed the FIA to continue its inquiry, but restrained it from taking any adverse action against him. Mr Shafi in his petition claimed the money was transferred through proper banking channels.

PTI senior vice president (finance) Sardar Azhar Tariq did not respond to repeated attempts by Dawn to seek comment.

Published in Dawn, September 3rd, 2022
 
Arif Naqvi, the founder of collapsed private equity firm Abraaj Group, lost his bid to challenge extradition from London to the US to face fraud charges.

London Judge Jonathan Swift denied his appeal of a 2021 ruling that stated Naqvi should be sent to the US to face criminal charges. Naqvi had appealed for a review of the decision, citing deteriorating prison conditions in the US, Bloomberg reported.

US prosecutors have alleged that the founder of Abraaj Group was the architect of a plot to defraud an array of investors, including the Bill & Melinda Gates Foundation.

Abraaj was at one stage one of the largest private equity funds in the Middle East until its collapse in 2018.

The US financial watchdog, the Securities and Exchange Commission (SEC) alleges that Naqvi and Abraaj collected over $100 million over three years from US-based charitable organisations and US investors.

He has repeatedly denied his charges, with his lawyer earlier stating that he has an “unshakable conviction is that he is entirely innocent of these allegations,” Bloomberg reported.
 
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Dev Patel, the talented Indian British actor, is set to take on a lead role in addition to executive producing Miramax TV's forthcoming limited series titled The Key Man. The series is adapted from the best-selling book The Key Man: How the Global Elite Was Duped by a Capitalist Fairy Tale, penned by Simon Clark and Will Louch in 2022.

According to Deadline, the captivating series is set in the Middle East and revolves around the life of Arif Naqvi, portrayed by Patel, who is a Pakistani businessman and the founder of Abraaj, a private equity firm based in Dubai. As the story unfolds, Naqvi's world begins to crumble when his deceitful actions towards investors and his grand illusions are brought to light, leading to his downfall as a public figure.

At the age of 32, Patel is not only taking on the lead role in The Key Man but also serving as an executive producer alongside Scott Delman and Florence Sloan, the individuals who optioned the rights to the gripping book. Patel has made a name for himself in the entertainment industry with standout performances in various successful films.

He gained widespread recognition for his role in the critically acclaimed 2008 film Slumdog Millionaire, which propelled him into the spotlight. His talent shone through once again in the 2016 drama Lion, leaving a lasting impact on audiences. Recently, he graced the screen in A24's The Green Knight, receiving praise for his remarkable portrayal.

Beyond his acting prowess, Patel is also venturing into the world of feature film direction. His debut as a director comes in the form of Netflix's Monkey Man, where he not only directed but also co-wrote and starred in the project.

With a string of successful films behind him and an exciting new directorial venture on the horizon, Patel continues to captivate audiences worldwide. As the lead and executive producer of The Key Man, viewers eagerly await his compelling performance in this riveting series that delves into the complexities of power, deception, and redemption.
 
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