LONDON: The London High Court’s Judge Justice Supperstone has confirmed the £15 million cash security deposit with three added sureties of UK businessmen of good standing for philanthropist Arif Naqvi’s bail application as he rejected the appeal against bail filed by the United States Department of Justice (DOJ).
The judge also dismissed arguments that Naqvi could flee to Pakistan to avoid facing fraud charges in America if extradited. Sitting at Court Room 1 of the Royal Court of Justice here, Justice Supperstone ruled that Arif Naqvi deserved to be on bail and the prosecutor, acting on behalf of the US government, had not provided enough evidence that Naqvi will violate terms of the bail, imposed earlier on May 01 by Senior District Judge Emma Arbuthnot at the Westminster Magistrate’s Court while granting bail of £15 million cash bond to Arif Naqvi. The prosecutor also conceded that Arif Naqvi is a man of good character.
On Thursday, the DOJ’s prosecutor appealed against the bail decision and approached the London High Court requesting that bail should be canceled and Naqvi should stay in the Wandsworth prison — where has been since his arrest around three weeks ago at Heathrow airport.
While rejecting the appeal by the US government, Justice Supperstone maintained all the bail conditions imposed by the Westminster Magistrate’s Court and added three securities of around half a million Pounds which will be subject to risk by three friends of Naqvi at the Westminster Magistrate’s Court.
The judge ruled that Arif Naqvi was aware about the proceedings around the Abraaj and expected that some action will materialise in the US against him but made no attempt to flee or hide. Justice Supperstone said that he was not persuaded by the evidence of the US government that Naqvi will not surrender or that he will flee to Pakistan. However, the judge said that appropriate bail conditions have been imposed which means that Naqvi will not seek access to any kind of travel documents; will surrender all his travel documents to the police; will remain under 24-hours curfew at his home and will remain tagged like two other co-accused.
At the hearing, the prosecutor repeated the same arguments that were made first at the Westminster Magistrate’s Court — that Naqvi had connections with senior officials and personalities in Pakistan and therefore he could flee to Pakistan using a private jet. The judge dismissed concerns of the prosecutor and stressed that while Naqvi — who carries Pakistani passport — had strong ties to Pakistan but he also has equally strong ties to Britain where his family resides permanently for a long time.
The judge dismissed the concern that Naqvi could access a private jet, stating that there was no evidence to back up the claim. Two of Naqvi’s associates — senior Abraaj executives Mustafa Abdel-Wadood in Manhattan and Sev Vettivetpillai in London — are already out on bail under strict curfew regimes.
Hugo Keith QC told the court that throughout since the Abraaj scandal broke out, Naqvi has been cooperating extensively with all parties focused on maximising creditor recoveries of the Abraaj Group.
Naqvi, along with other executives of Abraaj Group, is charged with inflating the value of the Dubai-based firm’s holdings but he has strongly denied all allegations and maintains his innocence.
