Nirav Modi fugitive ‘jeweller to the stars’ arrested in London
The fugitive diamond merchant was arrested by the Scotland Yard.
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Nirav Modi fugitive ‘jeweller to the stars’ arrested in London

Nirav Modi is the main accused in the 13,000 Crore Punjab National Bank fraud.  The fugitive diamond merchant was arrested by Scotland Yard. After been produced in Metropolitan Magistrate’s court he had offered half-a-million pounds as bail bond of Nirav Modi has been remanded in custody and denied bail until next hearing on the 29th March 2019.

Nirav Modi was arrested on behalf of the Indian Authorities.  Few days ago, Nirav Modi was confronted by a reporter on the streets of London. The reporter asked him several questions and his response to all the questions was “No Comments”. A week ago, UK had issued a warrant against Nirav Modi on India’s request for his extradition.  He was arrested from a Metro Bank branch in London by uniformed officers when he had come to the bank for opening a new account. The credit goes to the alertness of a bank clerk which led to the arrest of Nirav Modi. The bank clerk immediately who seems to be aware of the high publicity of the case informed the Scotland Yard and soon the Metropolitan police officers arrived at the spot to execute the arrest.

His jewellery shops were raided last year and his assets were frozen once allegations had emerged against him. Nirav Modi and his uncle Mehul Choksi are the main accused in the PNB scam and both had left Indian before the news of the scam was out in the public in 2018. Nirav Modi had launched stores in India, UK.

The Indian government was heavily criticized for not been able to arrest high-profile offenders like Nirav Modi and the fugitive liquor baron Vijay Mallya who duped loans of Indian banks worth 9,000 Crore and fled to UK.

Nirav Modi fugitive ‘jeweller to the stars’ arrested in London