U.S. Criminal Case Against Abraaj Widens With Third Arrest

A U.S. criminal case against former executives at buyout fund Abraaj Group, which collapsed last year in the world’s biggest private-equity insolvency, widened following the arrest of a third director.

Sev Vettivetpillai, a former managing partner, faces possible extradition to the U.S., while a number of other officials were named as alleged co-conspirators. He remains in custody while prosecutors appeal the 1 million-pound ($1.3 million) bail granted by a London judge, his lawyer, Kate Goold, said after a court hearing April 18.

Arif Naqvi, the founder and ex-chief executive officer of Abraaj, also appeared in court following his arrest earlier ...