PNB Scam Case: UK Court Says Nirav Modi Can Be Extradited
A court in the United Kingdom said that evidence found against wanted diamantaire Nirav Modi is sufficient to establish a prima face case against him and said that he has a 'case to answer for in India'.
Nirav Modi lost his fight against being extradited to India as a UK judge ruled that he can be sent back to face charges of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam case.
The Westminster Magistrates' Court in London said that Nirav Modi conspired to destroy evidence and intimidate witnesses.
The 49-year-old appeared via video link from Wandsworth Prison in south-west London as District Judge Samuel Goozee handed down his judgment at Westminster Magistrates' Court in London.
Modi was arrested on an extradition warrant on March 19, 2019, and has appeared via videolink from Wandsworth Prison for a series of court hearings in the extradition case. His multiple attempts at seeking bail have been repeatedly turned down, both at the Magistrates' and High Court level, as he was deemed a flight risk.
He is the subject of two sets of criminal proceedings, with the Central Bureau of Investigation (CBI) case relating to a large-scale fraud upon PNB through the fraudulent obtaining of letters of undertaking (LoUs) or loan agreements, and the Enforcement Directorate (ED) case relating to the laundering of the proceeds of that fraud.