Nehal Modi Arrested in US, Faces Extradition Over PNB Scam
Nehal Modi, younger brother of Nirav Modi, has been arrested in the US following extradition requests from India. He faces charges of money laundering and criminal conspiracy related to the Rs 13,000 crore Punjab National Bank fraud. Proceedings continue, with a hearing set for July 17.
- Country:
- India
US authorities have arrested Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, following extradition requests by Indian authorities, officials disclosed Saturday.
Currently subject to an Interpol Red Notice, Nehal Modi was taken into custody in the US on Friday, according to officials informed about the matter.
His arrest is linked to the notorious Rs 13,000 crore fraud at Punjab National Bank, where both Modi brothers and their uncle Mehul Choksi are accused. The next hearing is scheduled for July 17, at which time Modi may request bail, a move anticipated to be contested by US prosecutors.
(With inputs from agencies.)
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