Nehal Modi was in US jail for 3 years before arrest in PNB scam: Sources
Nirav Modi, his uncle Mehul Choksi, Nehal Modi and others are wanted by the CBI and the Enforcement Directorate (ED) for cheating PNB of about Rs 13,500 crore in loans using fraudulent Letters of Undertaking (LoUs).While Nirav Modi's extradition has already been approved by the UK High Court, the process to bring him to India is being delayed due to him filing numerous appeals. Nirav, who is in a London jail, was declared a fugitive economic offender in 2019.Earlier this year, the Belgian government said Choksi, 65, was arrested in Antwerp following an extradition request by India. Choksi fled India in 2018 and has been living in Antigua and Barbuda as a citizen since then.NEHAL MODI'S CRIMINAL ACTIVITIESAccording to investigative agencies, Nehal Modi knowingly and intentionally participated in assisting the concealment of proceeds of crime, destroying the evidence.Nehal Modi was personally overseeing all the accounts, records were eliminated and was influencing the employees and participated in destroying the evidence in respect of the money trail. He also dealt with the proceeds of the crime by taking 50 kgs of gold from Firestar Diamond FZE, Dubai after the initiation of an investigation into this fraud.After the scam broke out, Nehal Modi dealt with the proceeds of the crime in respect of the Nirav Modi case and took away diamonds having a value of USD 6 million and 150 boxes of pearls from Hong Kong and cash of AED 3.5 million and 50 kgs of gold, along with Mihir Bhansali, another coconspirator from Dubai.Nehal Modi destroyed digital evidence (mobile phones and servers) pertaining to the Nirav Modi case in Dubai. He intimidated the witnesses and sent them to Cairo and their passports were taken over at his instances.Witnesses were forced to sign some false papers in Cairo at his insistence. In one case, a witness was offered Rs 20 lakh by Nehal Modi in lieu of tendering false testimony before the judicial authorities of Europe.The Indian government officially demanded the extradition of Nehal Modi, on which action has now been taken by the US. It is expected that the process of bringing Nehal Modi to India will begin soon.- Ends
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