Abraaj founder loses challenge to U.S. extradition on fraud charges

Naqvi's lawyer argues he suffers from severe depression with “real risk” of suicide if extradited

LONDON: The founder of collapsed private equity company Abraaj Group on Wednesday lost a bid to challenge his extradition from London to the United States to face fraud charges.

U.S. prosecutors allege Pakistani businessman Arif Naqvi is the architect of a plot to defraud investors including the Bill & Melinda Gates Foundation.

Naqvi has previously denied the allegations through a public relations firm.

Judge Jonathan Swift on Wednesday refused Naqvi permission to bring a judicial review against the 2021 approval of his extradition to the United States.

Naqvi’s lawyer Edward Fitzgerald told London’s High Court on Tuesday that Naqvi was likely to be held in a New Jersey prison where he may have to share a dormitory with violent criminals.

Naqvi also suffers from severe depression and there is a “real risk” of suicide if he is extradited, Fitzgerald argued.

However, lawyers representing the U.S. government said Naqvi has been given assurances that prosecutors will not oppose bail before he stands trial.

The U.S. government’s lawyer Mark Summers said in court filings that the judge in Naqvi’s case is U.S. District Judge Lewis Kaplan, who granted bail to FTX founder Sam Bankman-Fried, which is a “strong indication” Naqvi will be granted bail.

Swift ruled on Wednesday that there had been no “material change” in prison conditions since the 2021 ruling approving Naqvi’s extradition.

The judge also said that Naqvi’s suicide risk could be adequately managed if he was held in prison.

Naqvi’s lawyer did not immediately respond to a request for comment.

Naqvi was the founder of Dubai-based Abraaj, which was the largest buyout fund in the Middle East and North Africa until it collapsed in 2018 after investors raised concerns about the management of its $1 billion healthcare fund.

The U.S. Securities and Exchange Commission (SEC) alleges Naqvi and his firm raised money for the Abraaj Growth Markets Health Fund, collecting more than $100 million over three years from U.S.-based charitable organisations and other U.S. investors.

1 COMMENT

  1. I lost my Job few months ago,my wife left me ,could not get income for my family, things was so tough and I couldn’t get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $2000. and I contacted him unbelievable and I was so happy I earn $22,500 in 6 working days, the most joy is that I can now take care of my family I don’t know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good trade management system. 
For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp : + 1(424)285-0682 or Telegram : Bernie_fx or Gmail : Bernie.doranfx01gmailcom

Comments are closed.

Must Read

Solarisation of agricultural tube wells to save Pakistan $2.7 billion in...

After Balochistan, federal government will collaborate with the governments of Punjab, Sindh, and KP to convert agricultural tube wells to solar energy.