Abraaj founder given more time to raise 15 million pound bail - Reuters:
The Pakistani founder of Abraaj Group, once one of the largest emerging markets private equity investors, has been given more time to raise a 15 million pound ($19.5 million) bail by a London court, a court official said on Friday.
Arif Naqvi was arrested in Britain last month and has been awaiting possible extradition to the United States where he faces charges of defrauding investors.
Naqvi was remanded in custody after the bail hearing at Westminster Magistrates Court on Friday was adjourned until May 17 because he failed to pay the bail conditions, the official said.
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