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Abraaj Group Founder Denied Bail In US Extradition Battle

Law360, London (April 26, 2019, 7:20 PM BST) -- A London judge on Friday denied bail to the founder of defunct Dubai private equity firm Abraaj Group, who was arrested on U.S. charges that he defrauded investors of hundreds of millions of dollars by inflating the value of the firm's investments.

Westminster Magistrate Court Judge Emma Arbuthnot said Abraaj Group founder and ex-CEO Arif Naqvi's personal and political connections in his native Pakistan gave her cause to believe he might flee. When he was arrested earlier this month, the 59-year-old handed authorities a list of phone numbers for people to contact on his behalf, including Pakistani President Arif Alvi....

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