The Home Minister of the United Kingdom has approved the extradition of the fugitive Indian businessman Nirav Modi, the Central Bureau of Investigation said on Friday. The fugitive billionaire is wanted for fraud and money laundering in the ₹ 14,000-crore Punjab National Bank (PNB) scam.
United Kingdom’s Home Minister has approved the extradition of Nirav Modi: CBI official pic.twitter.com/cdqLHDYM92— ANI (@ANI) April 16, 2021
The move comes after the UK court in February 2021 had accepted that prima facie, a money laundering case has been established against Modi. The UK’s Westminster Magistrates’ Court had also acknowledged that the diamantaire had conspired to destroy evidence and intimidate witnesses and ordered that Nirav Modi may be extradited to India to stand trial.
Nirav Modi is the prime accused in the $2 billion USD PNB scam
Nirav Modi is accused in two criminal cases. First is the USD 2 billion PNB scam slapped on the diamantaire by the CBI. Second, the Enforcement Directorate (ED) case relating to the laundering of the proceeds of that bank fraud. He also faces two additional charges of evidence tampering and intimidating witnesses, which were added to the CBI case.
He had fled India just before the PNB scam was brought to the light. He had left the country and fled just when PNB had reported a massive 11,300 crore loan fraud by Nirav Modi and his uncle Mehul Choksi.