Nirav Modi arrested in London, to be produced in court shortly

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Fugitive jeweler, 48-year-old Nirav Modi, prime accused In the Rs. 13,000-crore PNB fraud case, has been arrested in London. He would be produced in the Westminster Magistrate’s Court shortly. According to the UK police he was picked up yesterday from a metro station Holborn, central London. A week ago, UK issued a warrant against him following the Enforcement Directorate’s request for his extradition.

Earlier this month, Nirav Modi was seen walking in London by a reporter of British newspaper The Telegraph. In a two-minute clip shared by the newspaper, the billionaire, was seen wearing a much-talked about expensive ostrich hide jacket, repeatedly said “no comments”.

Nirav Modi and his uncle Mehul Choksi are the prime accused  in the bank scam involving fake guarantees in the name of the state-run lender PNB to secure loans overseas. Both left India in January last year before the CBI started investigating the PNB scam.

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