Tags: APFN | EU | Britain | Indian Tycoon

UK Court Rules That Indian Tycoon Should Face Extradition

UK Court Rules That Indian Tycoon Should Face Extradition

Monday, 10 December 2018 07:38 AM

LONDON (AP) — A British court has ordered that Indian tycoon Vijay Mallya should face extradition to India on financial fraud allegations.

Judge Emma Arbuthnot said Monday there were substantial misrepresentations in Mallya's characterizations of his financial dealings.

She said loans were obtained based on false statements and that banks had been fooled by Mallya's flamboyant personality and purported vast wealth.

The 62-year-old tycoon can still appeal the ruling, which was made in Westminster Magistrates' Court.

Mallya showed no emotion and drank from a plastic water bottle when the ruling was announced.

He is accused by India of money laundering and conspiracy involving hundreds of millions of dollars. He has denied wrongdoing in repeated court appearances.

Mallya was once a leading figure among India's business elite.

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A British court has ordered that Indian tycoon Vijay Mallya should face extradition to India on financial fraud allegations.Judge Emma Arbuthnot said Monday there were substantial misrepresentations in Mallya's characterizations of his financial dealings.She said loans were...
APFN,EU,Britain,Indian Tycoon
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2018-38-10
Monday, 10 December 2018 07:38 AM
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