London — British police re-arrested Indian tycoon Vijay Mallya on Tuesday amid an ongoing extradition request from India, where he is accused of fraud. Mallya left India in March 2016 owing more than $1bn after defaulting on loan payments to state-owned banks and allegedly misusing the funds. The flamboyant financier, who co-owns F1 team Force India, was expected to appear in a London courtroom later on Tuesday to face additional charges. "He has been arrested," a spokesperson for the UK’s Crown Prosecution Service said. "New charges are being added on." Mallya was out on bail after being arrested by police in April following an extradition request from India in early February. Indian investigators demanded he be brought home to face fraud charges related to the bank defaults. Mallya insisted he was innocent and denied fleeing the charges in his homeland, following the legal hearing in London in June. "I deny all allegations that have been made and I will continue to deny them," he ...
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