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Former F1 team owner Vijay Mallya to be extradited over fraud charges
Former Formula 1 team owner and team principal Vijay Mallya faces extradition to India over fraud charges following approval by the UK's Home Office. Mallya bought out the old Spyker team for £75 million in 2007 to form the Force India F1 Team and served as team boss until the outfit entered administration during the Hungarian Grand Prix weekend. The Indian-born businessman, who was once worth billions thanks to his spirits empire, faced financial difficulties after his airline, Kingfisher Airlines, lost its licence to operate and defaulted on several loans worth hundreds of millions. Creditors have been chasing Mallya for years and campaigning Indian courts...
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5y ago from MotorsportWeek.com
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