Fugitive billionaire Nirav Modi denied bail in London over bank fraud case

Fugitive billionaire Nirav Modi denied bail in London over bank fraud case

The 48-year-old faces the possibility of extradition to India.



By Reuters

Published: Fri 29 Mar 2019, 11:00 PM

Last updated: Sat 30 Mar 2019, 8:27 AM

Fugitive billionaire jeweller Nirav Modi was denied bail in a London court on Friday, following his arrest last week by British authorities on charges over his alleged involvement in a $2 billion fraud at India's state-run Punjab National Bank.
The 48-year-old Modi, who denies the charges, faces the possibility of extradition to India where Prime Minister Narendra Modi (no relation) is under pressure to take a firm stance on the case ahead of national elections in April-May. 


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