Accused Abraaj tycoon Arif Naqvi sells UK mansion for more than £12m | The National
Abraaj founder Arif Naqvi sold his British country estate for £12.25 million ($17m) after being prevented from living there during his extradition battle with the United States.
Mr Naqvi was placed under effective house arrest at his London apartment two years ago after his detention at Heathrow Airport on suspicion of fraud and money laundering over the collapse of the Dubai-based private equity company.
Property ownership documents show his semi-rural retreat of Wootton Place, Oxfordshire, about 100 kilometres west of London, was sold to a prominent businessman in September last year for a £2.75m profit on the price Mr Naqvi paid in October 2006.
The home – complete with extensive grounds, cricket pitch and bordering a church in the village of Wootton – was owned, on paper, by British Virgin Islands-registered company Blondell Assets Ltd.
But the Naqvi family were well-known residents in the attractive hilltop village. The globe-trotting Mr Naqvi, who also had homes in Pakistan, St Kitts and France, was rarely seen at the house but threw open its gates several years ago for villagers and members of Pakistan’s cricket team who played a match on the private field.
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