Fugitive diamond merchant Nirav Modi's younger brother Nihal Modi has been arrested. The Enforcement Directorate and the CBI had requested his extradition. After these requests, Nihal Modi was arrested in the US.
The US Justice Department has confirmed the arrest. Several cases are also registered against him in New York. Nihal is accused of committing fraud of more than $2.6 million. Now Nihal will be extradited to India.
Nihal Modi will be produced in court on July 17, where he can seek bail. But US officials will oppose it in court. Let us tell you that Nihal is accused of fraud of Rs 13,000 crore related to Punjab National Bank. This scam was plotted by Nirav, Nihal and his uncle Mehul Choksi.
Nirav Modi is currently lodged in a London jail. Nihal used to convert Nirav's criminal wealth into white money. Several cases have been registered against him including creating fake companies and hiding and manipulating black money under the guise of foreign transactions.
In the chargesheet filed by the ED, Nihal was accused of destroying evidence and deliberately helping Nirav in his illegal activities. According to the ED, after the PNB scam came to light, Nihal, along with Nirav's close aide Mihir R Bhansali, had withdrawn 50 kg of gold and a huge amount of cash from Dubai.
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