Dubai Police special team to expedite fugitive's extradition

DUBAI — The Dubai Police will constitute a special team to coordinate with India to hand over Madhav Patel, a fugitive businessman reportedly arrested in India, to the UAE, Dubai Police chief Lt-Gen. Dhahi Khalfan Tamim has said.



by

Amira Agarib

Published: Tue 15 May 2007, 8:39 AM

Last updated: Sun 5 Apr 2015, 4:24 AM

The two countries have signed an extradition treaty. The UAE has handed over several criminals arrested in the UAE to the Indian authorities in the past few years, Dhahi Khalfan said.

Madhav Patel, 49, is wanted by the UAE for allegedly duping 30 banks in the country during his stay in Dubai spanning over 20 years. He operated three trading companies and his business interests extended through Asia and Europe.

Dhahi Khalfan said the affected banks had submitted necessary documents and copies of judicial ruling against the absconder to press for legal action against the fugitive. Patel had fled the country with over Dh1.2 billion of credit fraud.

The fraud was discovered in May 1999 when one of Patel's company dealing in metal trading ran into financial difficulties. Initially, he played down the problems affecting his operation, and announced that a rescue plan was being worked out.

However, Patel later fled the UAE for London in the same year (1999). Some 20 Middle East banks had extended credit to his trading businesses.

According to reports, Patel was arrested in Mumbai some time in January this year. During his interrogation, he reportedly revealed the address of his absconding father, another accused in the same fraud case.

Subsequently, the CBI arrested his father in New Delhi. Both were produced before a Mumbai court which granted them bail.


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