Abraaj founder still in jail after failure to pay £15m bond

Pedro Gonçalves
clock • 1 min read

Arif Naqvi, the Abraaj Group founder caught up in a US fraud probe, remains in jail days after winning bail because of failing to pay a £15m security bond. Naqvi, 58, was granted bail last week while he fights extradition to the US over fraud charges on condition he pays £15m to a UK court. But Westminster Magistrates' Court confirmed on Tuesday that he is yet to come up with the funds and remains in custody.  He has been given until the end of this week to come up with the money. The bail bond is believed to be the largest of its kind ever ordered by a British court. The bail c...

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