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UAE tycoon Qubaisi named in $1bn US suits

The rise and fall of Abu Dhabi tycoon Khadem al-Qubaisi, named this week in US Justice Department lawsuits seeking to seize over $1 billion in assets, illustrates the unpredictability of an opaque Gulf business world fuelled by huge sums of oil money.

Emirate's stadium: Real Madrid president Florentino Perez (left) and Khadem Abdullah al-Qubaisi, then chief executive of IPIC, after a deal with the Spanish footballing giants
Emirate's stadium: Real Madrid president Florentino Perez (left) and Khadem Abdullah al-Qubaisi, then chief executive of IPIC, after a deal with the Spanish footballing giants
  • Reuters
Published 21 July 2016, 15:05Updated 25 October 2016, 15:21
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