Force India Formula 1 co-Owner Vijay Mallya, the self-proclaimed "King of the Good Times," was arrested on Tuesday "over allegations of supporting his F1 team with money-laundered cash," according to Rupert Neate of the London GUARDIAN. The Indian government accused Mallya, 61, of fleeing to the U.K. to "avoid arrest" in relation to £1B ($1.3B) of unpaid debts. The Crown Prosecution Service said that Mallya was "re-arrested on Tuesday on behalf of Indian authorities." The CPS said, "The new charge is essentially showing where the money went to, for example, it is alleged that some of the funds ended up with the Force India racing team." Mallya denied the charges "and was released on bail after a brief appearance at Westminster magistrates' court." He said outside court, "I deny all allegations that have been made and I will continue to deny them. I have not eluded any court. If it is my lawful duty to be here, I'm happy to be here." The businessman is due back in court on Nov. 20 and an extradition hearing is due to start on Dec. 4 (GUARDIAN, 10/3).
