Former Abraaj Group CEO Denied Bail
Posted on 04/29/2019
On April 10, 2019, Arif Naqvi, the former CEO of The Abraaj Group, was arrested at London’s Heathrow Airport, after he was returning from Pakistan. U.S. prosecutors made a request to extradite him that is part of a massive criminal case against the infamous emerging market private equity firm.
U.K. Judge Emma Arbuthnot denied a bail request from Naqvi, over a possibility of him fleeing to Pakistan. Naqvi was carrying two Pakistani passports when arrested, as well as giving the police the number of Pakistan President Arif Alvi when questioned for contacts.
Judge Emma Arbuthnot commented, “That suggests extremely highly placed friends in Pakistan. I am not going to grant him bail.”
