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Tuesday, 27 September 2016

Oaktree Executive Avoids UAE Extradition Over $264 Million - Bloomberg

Oaktree Executive Avoids UAE Extradition Over $264 Million - Bloomberg:

"An Oaktree Capital Group LLC executive wanted by United Arab Emirates authorities in a $264 million embezzlement case won’t be extradited after U.K. prosecutors said there was insufficient evidence to back up the warrant.
A London judge on Tuesday dismissed the warrant against Martin Graham -- a senior vice president at the world’s largest distressed-debt investor -- after the Crown Prosecution Service said there was no case to answer. Graham, wearing a gray suit and blue and white spotted tie, sat quietly in the back of the courtroom and declined to comment after the hearing.
The 37-year-old was arrested in June after the UAE issued an extradition request accusing him of stealing $264 million from engineering contractor Gulmar Offshore Middle East LLC between June 2014 and April 2015. He was found guilty by a UAE court and sentenced in absentia in August 2015. He said he wasn’t aware of the conviction until November 2015 when he was told by a third party."

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