Abraaj founder kept in custody in absence of £15 mln bail - Reuters:
Arif Naqvi, the founder of collapsed buyout firm Abraaj Group, was on Wednesday given another two days to raise a 15 million pound bail by a London court, a court official said.
Naqvi was arrested in Britain last month and has been awaiting potential extradition to the United States where he faces charges of defrauding investors.
On May 3, Westminster Magistrates Court granted Naqvi bail on condition that he pay 15 million pounds ($19.72 million) and an additional surety of 650,000 pounds, as well as surrendering his Pakistani passport, remaining under 24-hour curfew at an address given to the court and wearing an electronic tag, a prosecution spokesman said at the time.
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