Extradition hearing of former Abraaj CEO to start in London - Arabianbusiness:
A four-day extradition hearing is set to get underway in London on Monday involving the founder and former chief executive of Abraaj Group, Arif Naqvi.
The former Dubai-based businessman is battling against US authorities, who want him to stand trial in America on charges of fraud and money laundering.
Naqvi is one of six former Abraaj executives who face charges stemming from the private equity’s firm’s 2018 collapse. In court papers last year, US prosecutors said Naqvi stole more than $250 million. But in a new filing on Friday, the liquidators put the losses much higher, claiming Naqvi stole $385m from 2009 to 2018 as he moved money for his own use in more than 3,700 transactions.
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