Big Win for ED & CBI: Nirav Modi’s Brother Nehal Modi Arrested in US Ahead of July 19 Extradition Hearing

Big Win for ED & CBI: Nirav Modi, a fugitive diamantaire has brother Nehal Modi who has been arrested in the US and on request of extradition by CBI and ED.

Nehal Modi has been arrested in the US on Friday. The move is after an extradition request was filed against him by the ED with the CBI.

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The hearing in the matter is scheduled to continue next on July 17 where Nihal ought to apply bail. The US prosecutors will however, oppose the plea, the officials were quoted by PTI to state.

There is a case involving ₹13,000- crore Punjab National Bank (PNB) fraud case, one of the biggest banking scams in India, and Nehal is on the run there.

Nehal Deepak Modi, who had been brought up and born in Belgium, is wanted in India on money laundering charges of helping his brother, Nirav Modi, who is incarcerated in a London prison awaiting extradition to India on the request of Indian authorities on a crime of money laundering charges.

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According to officials, Nehal helped conceal and transfer huge amounts of illegal money to a network of shell companies and in foreign transactions.

The Enforcement Directorate even accused that Nehal together with the close associate of Nirav, Mihir R Bhansali was involved in the PNB fraud after it was exposed, "took 50 kg gold and substantial cash from Dubai, and directed dummy directors not to reveal his name before the authorities," according to PTI.

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