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Abraaj Founder Naqvi Released From Jail as $19 Million Bail Paid

  • Naqvi was released Tuesday after being held in a London prison
  • Prosecutors seek extradition on fraud charges, which he denies

Arif Naqvi, the founder of buyout fund Abraaj Group, has been released from custody almost a month after being granted a record 15 million-pound ($19 million) conditional bail.

Naqvi was freed on Tuesday night after the security was paid, his spokesman said Wednesday. Westminster Magistrates Court confirmed it had sent a “release notice” -- an instruction that he can be let out -- to Wandsworth prison in south London, where he’d been held.