65-year-old Mehul Choksi was arrested in Belgium on Saturday. Indian authorities have initiated an extradition request - to bring the fugitive back to India - for a 13,500 crore rupees Punjab National Bank (PNB) scam.
The 2018 fraud was one of the biggest scams the country had seen. Involved with Choksi in the fraud was his nephew Nirav Modi.
Both fled India around the same time in 2018, but to different destinations. Choksi obtained citizenship in Antigua and Barbuda through the Citizenship By Investment program.
Who was Nirav Modi before he became the prime accused?
With roots tracing back to Gujarat, India, 54-year-old Modi grew up in Antwerp, Belgium - a global hub of diamond trading. Modi comes from a long line of businessmen involved in diamonds. His father, Deepak Modi, was also a diamond businessman who moved the family to Antwerp for better business opportunities.
He dropped out of Wharton School at University of Pennsylvania before finishing graduation and moved back to India to join his maternal uncle Choksi - the founder and former managing director of Gitanjali Gems - in his diamond business.
He founded the Firestar Diamond in 1999, which went to lay the groundwork for his luxury brand 'Nirav Modi'. He quickly garnered international attention as a diamond extraordinaire and an entrepreneur - with stores across continents in the U.S., Asia and Europe. Modi라이브 바카라 worth was valued at USD 1.8 billion, and he was ranked 85th on Forbes’ 2017 list of India라이브 바카라 richest people.
Nirav Modi라이브 바카라 Whereabouts Since He Fled
Modi - who was photographed with Prime Minister Narendra Modi in 2018 Davos Summit - fled India in January 2018 before the PNB scam came to light. He was subsequently arrested on the request of Indian authorities in 2019 in the United Kingdom, and was presented in the Westminster Magistrates' Court.
Before his arrest, Nirav Modi jumped through plenty of hoops to avoid being incarcerated. According to reports, after Modi left India in 2018, he first went to UAE where he was chased by the Indian authorities making it difficult for him to stay. He subsequently travelled to Hong Kong - where the diamond merchant had multiple jewelery stores - in the beginning of February where he attempted to arrange for a longer stay but failed to due to stringent laws.
The purpose of his stay was believed to launder money illegally taken from the Indian banks.
From Hong Kong he went to London, where he lived in an apartment for almost a month, TOI reported. He then flew to New York, USA, in the middle of March.
Modi sought bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York (Manhattan) for his U.S.-based companies—Firestar Diamond Inc., Fantasy Inc., and A. Jaffe Inc. The filing was made to protect these companies from creditor claims following the exposure of the PNB fraud in India.
On March 19, 2019, Modi was taken into custody in London by UK officials following an extradition request submitted by the Indian government. He is held in HM Prison Thameside, UK.
Throughout his detention, Modi has participated in court proceedings via video link from prison. As of May 2024, Modi's bail was denied for the seventh time labeled as 'Flight Risk', and he continues to be held at HM Prison Thameside, while contesting extradition to India.
