Abraaj founder released from custody after $19 million bail payment - Reuters:
Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said.
Naqvi was being held at Wandsworth Prison in London after he was arrested in April in connection with charges he faces in the United States of defrauding investors including the Bill & Melinda Gates Foundation.
“These past weeks have been an extremely challenging time for Mr Naqvi and his family,” said a statement released on Naqvi’s behalf via a PR firm.
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