{"id":597777,"date":"2019-05-05T04:01:26","date_gmt":"2019-05-05T04:01:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/05\/abraaj-founder-arif-naqvi-released-on-record-gbp-15-mn-bail\/"},"modified":"2019-05-05T04:01:26","modified_gmt":"2019-05-05T04:01:26","slug":"abraaj-founder-arif-naqvi-released-on-record-gbp-15-mn-bail","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/05\/abraaj-founder-arif-naqvi-released-on-record-gbp-15-mn-bail\/","title":{"rendered":"Abraaj founder Arif Naqvi released on record GBP 15 mn bail"},"content":{"rendered":"

Abraaj founder Arif Naqvi released on record GBP 15 mn bail:<\/b> Abraaj founder Arif Naqvi was granted conditional bail by a London court on Friday for a record GBP 15 mn (USD 20 mn), Bloomberg<\/a> reports. Naqvi is likely to face a hearing in the UK on 24 May to determine whether he will be extradited to the US on charges of fraud, Reuters said<\/a>. Former Abraaj managing partner Sev Vettivetpillai has also been released on conditional bail and will appear in court again on 12 June. Naqvi and former managing partner Mustafa Abdel-Wadood were arrested<\/a> in Britain last month and face charges of defrauding US investors by artificially inflating the value of the fund\u2019s holdings. Naqvi\u2019s representatives released a statement on Friday maintaining his innocence. The news comes just days after Abdel-Wadood was ordered released<\/a> on bail of USD 10 mn. Abdel-Wadood will remain in a Manhattan studio apartment ahead of trial as early as November.<\/p>\n

Corrected on 8 May 2019 <\/em><\/p>\n

(We had incorrectly reported that Abdel-Wadood's bail as USD 10 bn)\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Abraaj founder Arif Naqvi released on record GBP 15 mn bail: Abraaj founder Arif Naqvi was granted conditional bail by a London court on Friday for a record GBP 15 mn (USD 20 mn), Bloomberg reports. Naqvi is likely to face a hearing in the UK on 24 May to determine whether he will be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4991,9347,72,3588,758,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597777","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-abraaj","tag-arif-naqvi","tag-enterpriseam","tag-fraud","tag-private-equity","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4b63528d-191b-43a4-b394-56632d7c2e6c","is_powered_by":true,"section_story_id":"18178d91-8955-4baa-a3cf-7b625ed68611","story_type":"1","photo_url":"","photo_position":"above","related_issue":[597762],"teaser":"","voice_url":""},"yoast_head":"\nAbraaj founder Arif Naqvi released on record GBP 15 mn bail - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/05\/abraaj-founder-arif-naqvi-released-on-record-gbp-15-mn-bail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abraaj founder Arif Naqvi released on record GBP 15 mn bail\" \/>\n<meta property=\"og:description\" content=\"Abraaj founder Arif Naqvi released on record GBP 15 mn bail: Abraaj founder Arif Naqvi was granted conditional bail by a London court on Friday for a record GBP 15 mn (USD 20 mn), Bloomberg reports. 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