US Opens Bid To Extradite Abraaj Group Founder From UK
Law360, London (June 22, 2020, 9:17 PM BST) -- Former Abraaj Group chief executive Arif Naqvi stole hundreds of millions of dollars from the private equity firm to hide its "parlous" financial state, a lawyer for the U.S. government told a London court Monday during the first day of Naqvi's extradition hearing.
Opening the U.S. case at Westminster Magistrates' Court, Mark Summers QC said Naqvi facilitated the fraud by giving "false information" that "contained misleading figures" to investors in Abraaj, which claimed to manage approximately $14 billion of assets at its peak.
The former Dubai resident is fighting extradition to the U.S., where he faces fraud and money laundering charges...
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