Indian jeweler Modi arrested in London, British police say

Modi is one of the main suspects charged in a $2 billion loan fraud


Reuters March 20, 2019
Modi is one of the main suspects charged in the $2 billion loan fraud. PHOTO: REUTERS

LONDON: Fugitive billionaire jeweler Nirav Modi had been arrested in London on behalf of the Indian authorities, British police said on Wednesday.

India had asked Britain in August to extradite Modi, one of the main suspects charged in the $2 billion loan fraud at state-run Punjab National Bank (PNB), India’s biggest banking fraud.

Police said Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London’s Westminster Magistrates Court on Wednesday.

This is a developing story will be updated accordingly

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