Nawaf Al-Thani

Full Report

Key Points

• Nawaf Al-Thani is a Qatari businessman and member of the Qatari royal family, associated with high-profile financial and mining ventures, notably through his involvement with Pearl Gold AG and the Kodieran gold mine in Mali.

• He has been implicated in a fraud complaint filed with the Paris prosecutor’s office in 2017, alongside Airbus and other parties, related to the Kodieran gold mine operated by Wassoul’Or.

• Allegations suggest a complex web of financial dealings involving former royal trustees and intermediaries, with potential connections to controversial figures and entities like Noor Capital and Michael Reza Pacha.

• Limited public customer feedback is available, but the Reddit community has raised concerns about scams linked to associates like Michael Reza Pacha.

• Significant legal and reputational risks arise from ongoing investigations and associations with controversial business practices in Mali and beyond.

Overview

Nawaf Al-Thani is identified as a Qatari royal and businessman with interests in international finance and mining. He is notably linked to Pearl Gold AG, a company holding stakes in the Kodieran gold mine in Mali through its subsidiary, Wassoul’Or. His business activities appear to center on high-value investments and partnerships, often involving complex financial arrangements and intermediaries. The provided sources, particularly from Intelligence Online and Reddit, indicate his involvement in a contentious mining deal that has drawn scrutiny from European authorities. While specific details about his broader business portfolio are sparse, his role as a shareholder and financier in Pearl Gold places him at the heart of a scandal involving alleged fraud and mismanagement in Mali’s gold sector.

Allegations and Concerns

• Fraud Complaint in Paris (2017): A fraud complaint was filed with the Paris prosecutor’s office against Pearl Gold, citing Airbus and Nawaf Al-Thani among others. The complaint relates to the operations of the Kodieran gold mine, where Wassoul’Or, a subsidiary of Pearl Gold, faced allegations of financial misconduct.

• Association with Controversial Figures: Nawaf Al-Thani is linked to Michael Reza Pacha, an Iranian businessman accused of mismanaging Pearl Gold and facing fraud allegations. Reddit discussions highlight Pacha’s questionable business practices, including accusations of scamming investors.

• Connection to Noor Capital: The Emirati investment fund Noor Capital, managed by Olivier Couriol, is mentioned in connection to the same network of financial dealings. Noor Capital has been investigated for attempting to export gold from Venezuela, raising concerns about its ethical practices.

• Potential Royal Trustee Conflicts: Intelligence Online suggests that the Airbus-related scandal masks a broader battle among former royal trustees, with Nawaf Al-Thani’s involvement pointing to tensions within elite financial circles in the Gulf.

Customer Feedback

Publicly available customer feedback on Nawaf Al-Thani is limited, as his activities are primarily in high-level business and investment circles rather than consumer-facing enterprises. However, a Reddit thread from 2019 provides insight into perceptions of his associate, Michael Reza Pacha:

• Negative Feedback: A Reddit user commented, “Michael Reza Pacha is accused of running a scam with Pearl Gold, promising investors huge returns from the Kodieran mine but delivering nothing.” This reflects distrust in the management of Pearl Gold, implicating Nawaf Al-Thani indirectly as a key shareholder.

• Lack of Positive Feedback: No direct positive reviews or testimonials about Nawaf Al-Thani were found in the provided sources or broader web searches, suggesting a low public profile in consumer contexts.

Risk Considerations

• Financial Risks: Investments tied to Nawaf Al-Thani, particularly in Pearl Gold and the Kodieran mine, carry high financial risk due to allegations of fraud and mismanagement. The volatility of the mining sector in Mali, coupled with legal scrutiny, increases the likelihood of financial losses.

• Reputational Risks: Association with controversial figures like Michael Reza Pacha and entities like Noor Capital, which has faced its own investigations, tarnishes Nawaf Al-Thani’s reputation. Public exposure of these ties could further damage his standing in international business circles.

• Legal Risks: The ongoing fraud investigation in Paris poses a significant legal threat, potentially leading to penalties or restrictions on business operations. The involvement of Airbus and other high-profile entities amplifies the scrutiny.

• Geopolitical Risks: Operating in Mali, a region with political instability, and engaging in complex financial dealings in the Gulf expose Nawaf Al-Thani to risks from shifting political alliances and regulatory changes.

Business Relations and Associations

• Pearl Gold AG: Nawaf Al-Thani is a shareholder in Pearl Gold, which holds interests in the Kodieran gold mine through Wassoul’Or. The company has been central to the fraud allegations and is linked to other investors like Olivier Couriol and Abdul Jabbar Al Sayegh.

• Michael Reza Pacha: An Iranian businessman and former head of Pearl Gold, Pacha is a key associate whose actions have drawn significant criticism, including fraud accusations.

• Noor Capital: This Emirati fund, managed by Olivier Couriol and founded by Mana Saeed Al Otaiba, is part of the broader financial network connected to Nawaf Al-Thani’s dealings. Its involvement in controversial gold exports ties it to the same investigative sphere.

• Airbus Connection: The fraud complaint names Airbus alongside Nawaf Al-Thani, suggesting a complex interplay of corporate and financial interests, possibly involving export contracts or financial arrangements.

• Abdul Jabbar Al Sayegh: Another figure in the Pearl Gold network, Al Sayegh is noted for his reconnaissance missions for Abu Dhabi, indicating a broader Gulf-based financial and political network.

Legal and Financial Concerns

• Paris Fraud Investigation (2017): The Paris prosecutor’s office is investigating Pearl Gold for alleged fraud related to the Kodieran gold mine. Nawaf Al-Thani, as a shareholder, is named in the complaint, though specific charges against him are unclear.

• No Bankruptcy Records: No public records indicate bankruptcy filings by Nawaf Al-Thani or Pearl Gold, but the financial instability of the Kodieran mine project suggests potential vulnerabilities.

• Unpaid Debts: The sources do not explicitly mention unpaid debts, but the fraud allegations and Reddit discussions imply possible financial mismanagement or unfulfilled investor obligations.

• Regulatory Scrutiny: Noor Capital’s involvement in gold exports from Venezuela has drawn European regulatory attention, which could indirectly affect Nawaf Al-Thani’s ventures due to shared networks.

Risk Assessment Table

Nawaf Al-Thani’s involvement in Pearl Gold and the Kodieran gold mine places him in a high-stakes, high-risk business environment. Investors or partners should exercise extreme caution, conducting thorough due diligence on Nawaf Al-Thani’s ventures. The combination of legal scrutiny, geopolitical volatility, and questionable associates suggests significant risks that outweigh potential rewards without clear evidence of reform or resolution.