Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, has been arrested in the USA following a request by the CBI and the ED, media reports said.
Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, has been arrested in the USA following a request by the CBI and the ED, media reports said.
Nehal Modi, Brother of Nirav Modi, Arrested in U.S. in Connection with PNB Scam
Nehal Modi, younger brother of fugitive diamantaire Nirav Modi, has been arrested in the United States following a request by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), according to media reports.
A Belgian national, Nehal Modi was taken into custody in connection with the multi-crore Punjab National Bank (PNB) fraud case. He had been under investigation for years and was previously charged with fraud for allegedly obtaining diamonds worth over $2.6 million from LD Diamonds USA, which he later pawned or sold for personal gain after failing to honor the agreed payment terms.
Nehal is also named in the official chargesheet in the PNB scam, in which he is accused of assisting his brother Nirav Modi in securing fraudulent letters of credit as part of a massive multi-billion-dollar banking scam that first came to light in 2018.
The PNB fraud involved several accomplices, including Nirav Modi and his uncle Mehul Choksi, who was arrested in Belgium in April.
