Giving Pledge Group, Led by Gates and Buffett, Removes Billionaire Accused of Fraud

A former private-equity tycoon in the Middle East has been ousted from the high-profile philanthropy group made up of some of the world’s wealthiest people.The group, the Giving Pledge, a network of charitable donors tied to the Bill and Melinda Gates Foundation, quietly cut ties with Arif Naqvi, the founder of the Abraaj Group, a private equity firm that has been accused of widespread fraud, said a spokesperson for the Giving Pledge.Mr.

Naqvi, 64, is only the third person to be forcibly removed from the group of philanthropists, which has been one of the most venerated collections of wealth holders across the globe.Mr.Naqvi’s name was, without announcement, removed from the Giving Pledge’s website this year, according to a New York Times review of its signatories.“We can confirm that Arif Naqvi is no longer a member of the Giving Pledge community,” the Giving Pledge spokesperson said in a statement to The Times.

“Mr.Naqvi was removed from the Giving Pledge in May 2024, in accordance with the spirit and intention of the Giving Pledge community.”Mr.

Naqvi could not be reached for comment.Lawyers who had represented him in the past did not respond to requests for comment.

He previously denied wrongdoing.The Abraaj Group made international headlines in 2018 with its collapse.The firm, based in Dubai, specialized in emerging markets and controlled $14 billion in assets, some of which were from the Gates Foundation.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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