Asia Pacific, Billionaire, Deal Makers, Europe, Financial, Global Banking, Global Economics, Global Investment, News, Private Bankers

Indian Billionaire & Jeweller Nirav Modi Linked to $1.77 Billion Fraud in India Seeks Political Asylum in UK

Indian Billionaire & Jeweller Nirav Modi Linked to $1.77 Billion Fraud in India Seeks Political Asylum in UK

Indian billionaire & jeweller Nirav Modi is seeking political asylum in the United Kingdom, 4 months after being linked to a $1.77 billion “fraudulent and unauthorised” transactions in India’s 4th largest bank.

” Indian Billionaire & Jeweller Nirav Modi Linked to $1.77 Billion Fraud in India Seeks Political Asylum in UK “

In February 2018, India’s 4th Largest Bank Punjab National Bank (PNB) had uncovered $1.77 billion of “fraudulent and unauthorised” transactions for the benefit of a few account holders that are alleged to include billionaire jeweller Nirav Modi.  He is wanted by the Indian police, and has been reported to be missing since February 2018 after the uncovering of the alleged fraud.

Nirav Modi founded global diamond jewelry house Nirav Modi (named after him) in 2010 and Nirav Modi was the first Indian jeweler to have been featured on the covers of Christie’s and Sotheby’s Catalogue.  Nirav Modi’s jewellery are worn by famous hollywood and bollywood stars, including having Kate Winslet, Naomi Watts and Priyanka Chopra advertised for the brand.  He is estimated to have a personal fortune of more than $1.7 billion.

Source: TWI, Reuters, BBCTimes of India

 

Video:

 

Video:

 

Video:

 

Video:

 

Video:

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency
Previous ArticleNext Article