Abraaj’s Arif Naqvi to be released on bail as US government says it hasn’t found all his wealth - The National:
A high court judge in Britain on Friday approved terms to free the Abraaj founder Arif Naqvi on £15 million bail while he fights extradition to the United States to face fraud charges.
The US government lodged an appeal on Wednesday after a lower court granted Mr Naqvi, 58, bail on 24-hour curfew on condition that he remain at his west London home and wear an electronic tag.
The Pakistani national is accused of conspiracy and fraud over the collapse of his Dubai-based private equity company the Abraaj Group. If found guilty, the maximum sentence he could serve is 45 years imprisonment. Mr Naqvi denies any wrongdoing.
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