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JOHNNYBET

Mallya accused of using Force India for money laundering purposes

NEWS STORY
03/10/2017

Force India's Vijay Mallya has been released on bail after being re-arrested on money laundering charges.

Accused by the Indian government of fleeing to the UK in order to avoid arrest over an estimated £1bn of debts linked to Kingfisher Airlines, which subsequently collapsed, the Force India co-owner, who was first arrested in April, was re-arrested today accused of using the F1 team for the purpose of money laundering.

"The new charge is essentially showing where the money went to," said the Crown Prosecution Service (CPS), "for example, it is alleged that some of the funds ended up with the Force India racing team."

Following a brief appearance at Westminster Magistrates Court, the 61-year-old was released on bail and immediately protested his innocence.

"I deny all allegations that have been made and I will continue to deny them," he told reporters. "I have not eluded any court. If it is my lawful duty to be here, I'm happy to be here."

The next hearing will take place on 20 November, with a full extradition hearing scheduled to begin on 4 December.

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