Nirav Modi arrested in London
Modi was arrested after a London court issued an arrest warrant against the diamond merchant, who is wanted in connection with the $2 billion PNB fraud case
Fugitive diamantaire Nirav Modi, accused in the USD 2 billion PNB fraud case, was arrested in London on Wednesday, over a year after he fled the country.
Nirav Modi has been arrested in London and would be produced in the court today, the Enforcement Directorate (ED) said.
On Monday, a London court issued an arrest warrant against the diamond merchant, who is wanted in India for an alleged loan default case.
According to sources, the arrest warrant was issued by the Westminster Court. He will be produced in court before the commencement of his extradition hearing.
The development comes days after the fugitive was tracked down to a 33-storey Centre Point Apartment complex in London’s Theatre District.
The tower was an office complex and was converted into luxury residences with prices ranging from £2 million to £55 million all with superb views over the city of London.
Modi was believed to be living in a property worth £8 million apartments in the tower, the rent for a similar apartment in the tower comes to approximately £17,000 a month, reported the Daily Telegraph.
One of the prime accused in the PNB scam in India, Modi is the subject of an extradition request by India, along with an Interpol Red Corner Notice being issued against him.
Modi is the prime accused in the Rs 13,000 crore PNB fraud, along with his uncle Mehul Choksi. Choksi was granted citizenship of Antigua and Barbuda on January 15, 2018, while Modi is in London.
Both Modi and Choksi left India in January last year before the PNB scam came out in the public. The duo has not returned to India despite repeated summons from investigating agencies and courts.
