Connect with us

Headlines

Newspaper Tracks Down Billionaire Jeweler Suspected in $2B Fraud

Nirav Modi has been staying in a high-dollar London apartment.

mm

Published

on

British newspaper The Telegraph tracked down Nirav Modi, the billionaire jeweler who’s suspected in a $2 billion fraud case in India, in London.

He’s been staying in a high-dollar apartment in London’s West End, according to the newspaper.

Podcast: Jason Druxman Discusses Differences of Corporate and Independent Jewelry Stores
JimmyCast

Podcast: Jason Druxman Discusses Differences of Corporate and Independent Jewelry Stores

Podcast: The 12 Days of Christmas … Like You’ve Never Heard It Before
Over the Counter

Podcast: The 12 Days of Christmas … Like You’ve Never Heard It Before

Podcast: Aleah Arundale Tells Why She Created Jewelers Helping Jewelers
JimmyCast

Podcast: Aleah Arundale Tells Why She Created Jewelers Helping Jewelers

Last year, The New York Times described Modi as being “on the run” and noted that figuring out his location had become something of a “national pastime” in India.

He’s remained at-large despite Interpol’s issuance of a reed notice for his arrest in July, The Telegraph reports.

The newspaper, which has described Modi as “India’s most wanted man,” posted a video of the jeweler on Twitter, with Modi replying “sorry, no comment” to a reporter’s questions.

The New York Times reports that India is waiting for a reply from Britain regarding an extradition request. The Telegraph later reported that that the UK had agreed to the extradition.

Advertisement

Modi is at the center of a fraud case involving Punjab National Bank, where employees are “suspected to have steered fraudulent loans” to Modi’s businesses, Reuters has reported.

Modi is apparently involved in a new new diamond business in the UK, according to The Telegraph.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

To Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than Delivered

Even successful jewelers need a little extra cash to fund expansion plans—especially when there’s inventory on hand that’s ripe for liquidation. For Beaumont, Texas-based jeweler Michael Price, co-owner of Mathews Jewelers, it was the perfect time to call Wilkerson. Price talked to other jewelers as well as vendors for advice during the selection process and decided to go with Wilkerson. And he wasn’t disappointed. When it comes to paying for the move and expansion, Price says the road ahead is clear. “When we close on the next two stores, there’s no worries about finances.”

Promoted Headlines

Most Popular