US to press for Arif Naqvi’s extradition over Abraaj collapse - The National:
Former Abraaj Group founder and chief executive Arif Naqvi faces extradition proceedings in London on Monday as he battles to avoid a trial in the United States for fraud and money laundering following the collapse of the private equity company.
Mr Naqvi, 59, has been living under curfew at a luxury gated London apartment block for more than a year after his arrest at London’s Heathrow Airport when he returned to the UK from Pakistan in April 2019.
He has been accused in US court documents of misappropriating more than $400 million (Dh1.46 billion) from Abraaj funds to hide losses in what he touted as the Middle East’s largest private equity company. Mr Naqvi has denied any wrong-doing and is fighting extradition.
US prosecutors say that Mr Naqvi was at the heart of a conspiracy to take money from funds and falsify financial records to hide the parlous position of his group of businesses.
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