Fugitive Nirav Modi's brother Nehal Modi arrested in US over India's extradition plea
PTC News Desk: Fugitive diamantaire Nirav Modi's younger brother Nehal Modi has been arrested in the United States over joint extradition request submitted by the ED and the CBI.
Nehal Modi, a Belgian citizen was arrested on July 4 in the United States by the local authorities acting on red corner notice issued by Interpol at the request of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
His arrest follows a prolonged diplomatic and legal process during which he challenged the red corner but failed to get it revoked. The matter is deferred to July 17 when Nehal is expected to seek bail that will be opposed by the US prosecutors.
Nehal is wanted in India in connection with ₹13,000-crore Punjab National Bank (PNB) fraud case, one of the largest banking scams in the country.
Nehal Deepak Modi, born and brought up in Belgium is wanted in India over his alleged involvment in multi-billion dollar Punjab and National Bank (PNB) scam, a banking fraud exposed in early 2018 in which his brother Nirav Modi is the prime accused.
Indian authorities allege that Nehal Modi played a role in helping Nirav destroy key evidence, intimidate witnesses, and obstruct the investigation in the aftermath of the scandal.
Nehal Modi is also accused of laundering black money earned from the scam assisted by his brother. The investigations have also revealed that this money has been distributed through shell companies abroad.
Meanwhile Nirav Modi, currently who is lodged in a London prison is facing extradition proceedings from the UK on an Indian request.
- PTC NEWS
