Fugitive Jeweler Nirav Modi has been arrested in London after a provisional arrest warrant was issued against him on March 18, 2019, by the Westminster Court. He will be produced before the court on March 20, 2019.
The authorities are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed last year. Earlier, Enforcement Directorate (ED) in the Rs.13,000 crore scam had registered a case against Modi and others under the Provisions of Prevention of Money Laundering Act, 2002
, after CBI registered an FIR against him under Sections 120-B r/w 420
of the Indian Penal Code, 1860
, read with Section 13(2) r/w 13(1)(d)
of the Prevention of Corruption Act, 1988
Nirav Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost £17,000 a month, The Telegraph
had reported. The businessman, along with his immediate relatives, had left the country weeks before the news of the scam broke in India. Despite several attempts Modi and his maternal uncle and co-accused fugitiveMehul Choksi
have refused to come back to India to join the probe, citing business and health reasons.