Indian tycoon Nirav Modi arrested in London

World Wednesday 20/March/2019 15:06 PM
By: Times News Service
Indian tycoon Nirav Modi arrested in London

Muscat: Indian billionaire diamantaire Nirav Modi was arrested in London by Scotland Yard on Wednesday.

Modi has been accused of defrauding an Indian Bank, the Punjab National Bank, to the tune of $ 2 billion.

Authorities in London arrested Modi after an arrest warrant was issued by a London Court in response to a request made by the Indian Enforcement Directorate (ED). The ED requested British authorities to help them extradite Modi for his role in the money laundering scheme.

"Nirav Deepak Modi, (Date of Birth 24.02.71), was arrested on behalf of the Indian Authorities on Tuesday, 19 March, in Holborn," the Metropolitan Police said in a statement.

"He will appear in custody at Westminster Magistrates' Court on Wednesday, 20 March," the statement added.

India's Minister of State for Housing & Urban Affairs said, "As wheels of justice grind, after Vijay Mallya, fugitive Nirav Modi has been arrested in London. Clear sign that this is not the India which will allow economic offenders to loot the country and evade the long arm of law."

Modi landed in London in 2018 and since has been able to travel around the UK despite his passport being cancelled by Indian authorities in February 2018.