Abraaj founder given extra time to raise £15 million bail

Pedro Gonçalves
clock • 3 min read

Arif Naqvi, the founder of Abraaj Group currently facing fraud charges in the United Kingdom, has been granted more time to raise a £15m bail by a London court, according to a report by Reuters, citing a court official. In a hearing at Westminster Magistrates' Court on Friday, Hugo Keith QC, Mr Naqvi's lawyer, said the amount the court was asking for security bond was "unprecedented" and said "although we are inching towards paying it, we are not there yet". Naqvi was arrested in Britain last month and has been awaiting possible extradition to the United States where he faces charges ...

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