F1 News
Of fraud suspect Mallya gets wrong from judge and has to go back to India
- GPblog.com
Vijay Mallya appealed against his extradition to India in Great Britain and the outcome was made public on Monday. The former owner of Force India has again lost to the prosecutor and will be extradited to his homeland in due course.
There Mallya is suspected of financial misconduct, including fraud. In 2012, his organization Kingfisher Airlines went bankrupt with more than one billion dollars in outstanding loans. The creditors never got their money, although Mallya himself indicates to be innocent and willing to pay off all loans herself. The authorities in India, however, do not believe him.
A new appeal is pending
India has been working for a long time (since 2016) to get Mallya on its own territory, but the country is now in good shape. However, Mallya will still have the opportunity to appeal and the 64-year-old Indian is expected to do the same. In 2017, the rich businessman has had to surrender his passport in Great Britain, where he has been staying for about three years. He was even arrested at India's request, but on bail the billionaire was soon released.
Mallya got involved in Formula 1 in 2007 by buying Spyker's team, which would be called Force India a year later. Due to financial difficulties, the race stable was sold to Lawrence Stroll two years ago.