Then Aarbar-Chairman Khadem Al-Qubaisi attends a news conference in Stuttgart, Germany March 23, 2009. REUTERS/Johannes Eisele/File Photo
ABU DHABI (Reuters) - The rise and fall of Abu Dhabi tycoon Khadem al-Qubaisi, named this week in U.S. 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.
In a few years, Qubaisi rose from obscurity to become one of the top executives in the United Arab Emirates by taking the helm of International Petroleum Investment Co (IPIC), a state-run company investing some of Abu Dhabi's petrodollars.
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