The brother of fugitive diamond king Nirav Modi, Nehal Modi, has been detained in the United States after the India Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) jointly sent an extradition request. Nehal was arrested in the US on Friday, and this is one of the major steps taken by India to bring back the key people involved in large-scale financial crimes.
The news agency reported that official sources stated that the arrest followed prolonged attempts by Indian investigative officers to extradite Nehal Modi. He is also wanted in India over the multi-billion-dollar Punjab National Bank (PNB) fraud case, where his brother, Nirav Modi, is the main accused. Both the CBI and ED have charged against Nehal Modi, aiding and abetting in laundering the proceeds of crime and were an active part in the hiding of assets.
Nehal Modi will be brought before a US court on July 17, most probably to file a formal bail request. But it has been suggested that the US prosecutors will vehemently stand against the granting of bail, citing the gravity of the charges and the danger of flight.
This is a turning point in the long-running campaign by India to draw fugitive economic criminals. Extradition to India is also underway with Nirav Modi, who is already incarcerated in a UK jail. Because the alleged fraud involved such amounts of money and involved jurisdictions of various countries, the case has received international coverage.
Indian officials have received the arrest with open arms, and they are also optimistic that the US court will grant the extradition petition so that Nehal Modi will be extradited to India and tried there.
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