clear
Wednesday December 13th, 2017 2:07AM

Indian tycoon calls money-laundering accusations 'baseless'

By The Associated Press
Related Articles
  Contact Editor

LONDON (AP) — Indian tycoon Vijay Mallya insisted he was innocent of money-laundering accusations Monday after the evacuation of a London court building forced him to face a swarm of journalists he had sought to avoid.

The start of Mallya's extradition hearing was delayed by 70 minutes because of the emergency evacuation at Westminster Magistrates Court, leaving the 61-year-old businessman and former politician to mingle with the media outside.

Television crews from India pursued him until he briefly proclaimed he had done nothing wrong.

"The allegations are baseless, unfounded, deliberate, and you will see our submissions in court," Mallya said.

Reporters kept circling him on the sidewalk.

"The answer will be given to the judge. You think you are going to conduct a trial by media?" he asked.

Once the court's emergency alarm stopped, lawyers for the Indian government started presenting a complex case against Mallya in support of the extradition request.

Mark Summers, presenting India's case on behalf of Indian prosecutors, described Mallya's attempt to prop up his ailing Kingfisher Airlines with bank loans in 2009 despite the carrier's dire financial straits.

"It was an airline in trouble at this stage, seeking financial assistance from a large number of banks and a large amount of money," Summers said.

Summers indicated the government plans to show that loans totaling hundreds of millions of dollars were misused. Indian officials have said Mallya is deeply in debt.

Kingfisher Airlines eventually defaulted on the loans. Summers said there were reasons to believe that was Mallya's intent all along.

"His company was in intensive care. The market was in intensive care. It was heading in only one direction," Summers said. "The defendant had a choice: Either you take those losses on yourself and impinge on your own lifestyle, or you try and palm it off on a bank."

Mallya, wearing a well-tailored suit and freshly barbered hair, sat impassively in the dock as the case against him was presented. His lawyer asked the judge to allow the entrepreneur to be seated inside the courtroom instead of the glass-enclosed dock, but the request was denied.

Scotland Yard's extradition unit arrested Mallya in response to a request from the Indian government.

Mallya launched Kingfisher Airlines in 2005, but it ran into trouble as it expanded. The Indian government suspended the airline's license in 2012 after it failed to pay pilots and engineers for months.

The extradition hearing is expected to take roughly two weeks and lead to a verdict on whether Mallya will be sent back to India or allowed to remain in Britain.

The tycoon will have the right to a further appeal if he loses his bid to remain in the United Kingdom.

  • Associated Categories: Associated Press (AP), AP World News, AP Entertainment, APOnline Celebrity News, AP Business
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
The Latest: Moore tweets thanks for Trump's endorsement
Roy Moore has tweeted his thanks for President Donald Trump's endorsement
8:08AM ( 8 minutes ago )
The Latest: Former Yemeni president said to have been killed
Yemen's Houthi rebels say former President Ali Abdullah Saleh, who ruled the country for more than three decades and played a pivotal role in the country's ongoing civil war, has been killed
8:01AM ( 14 minutes ago )
Facebook's Sandberg warns of backlash against women
Facebook's Sheryl Sandberg is calling for systemic, lasting changes to combat workplace sexual harassment
7:59AM ( 17 minutes ago )
Associated Press (AP)
Billy Bush says Trump 'Access Hollywood' tape is real
Billy Bush says it was indeed Donald Trump's voice captured on a 2005 'Access Hollywood' tape talking about fame enabling him to grope and try to have sex with women
6:04AM ( 2 hours ago )
2017 Kennedy Center Honors recognize artists, bypass drama
This year's Kennedy Center Honors recognizing outstanding artists and performers managed to bypass political drama.
1:06AM ( 7 hours ago )
2017 Kennedy Center Honors recognize artists, skip drama
This year's Kennedy Center Honors recognizing outstanding artists and performers managed to bypass political drama - just ask honoree Norman Lear
12:22AM ( 7 hours ago )
AP Entertainment
Roiled by claims, Alabama Senate race goes off the rails
Alabama's Senate race has veered into uncharted territory since sexual misconduct claims surface against Republican Roy Moore
11:18AM ( 20 hours ago )
Sex cases put spotlight on sex addiction, but is it real?
VIP sex cases put spotlight on sex addiction
10:43AM ( 21 hours ago )
UK extradition hearing to start for tycoon sought by India
Indian tycoon Vijay Mallya is set to face an extradition hearing in London that should determine whether he is sent back to India to face money laundering allegations related to the collapse of many of his businesses
4:43AM ( 1 day ago )
APOnline Celebrity News
Trump offers full support for embattled Republican Roy Moore
President Donald Trump is throwing his full support behind embattled Republican Roy Moore in the Alabama Senate race
7:37AM ( 39 minutes ago )
Apple, Google at China internet fest shows lure of market
Apple, Google leaders' presence at China state-run internet conference highlights dilemma for Western tech companies trying to expand in increasingly restricted market
6:44AM ( 1 hour ago )
Eurozone finance ministers voting for new leader
The finance ministers from the 19 countries that have the euro as their currency are in the process of deciding who should be their main spokesman
6:43AM ( 1 hour ago )
AP Business
The Latest: Moore tweets thanks for Trump's endorsement
Roy Moore has tweeted his thanks for President Donald Trump's endorsement
8:08AM ( 8 minutes ago )
The Latest: Former Yemeni president said to have been killed
Yemen's Houthi rebels say former President Ali Abdullah Saleh, who ruled the country for more than three decades and played a pivotal role in the country's ongoing civil war, has been killed
8:01AM ( 15 minutes ago )
Facebook's Sandberg warns of backlash against women
Facebook's Sheryl Sandberg is calling for systemic, lasting changes to combat workplace sexual harassment
7:59AM ( 17 minutes ago )
Theresa May makes diplomatic push to unlock Brexit talks
British Prime Minister Theresa May is coming to Brussels for crucial talks on the state of Brexit negotiations with the outcome poised to set the agenda for the divorce terms between Britain and the European Union
7:56AM ( 19 minutes ago )
Portugal's finance chief tipped to lead eurozone group
The finance ministers from the 19 countries that have the euro as their currency are in the process of deciding who should be their main spokesman
7:46AM ( 29 minutes ago )