The extradition request was jointly submitted by the ED and the CBI. The proceedings led by the US prosecutors were taken up on two charges: one count of money-laundering under Section 3 of the Prevention of Money Laundering Act (PMLA), 2002, and one count of criminal conspiracy
Nehal Modi and Nirav Modi
The US authorities have arrested the younger brother of fugitive diamantaire Nirav Modi on the basis of the extradition requests from the Enforcement Directorate and the CBI, officials said on Saturday. They said the US authorities had informed India that Nehal Modi was taken into custody on Friday. The next date for the hearing in the matter is July 17, when Nehal may seek bail, but it will be opposed by the US prosecutors, they said.
The extradition request was jointly submitted by the ED and the CBI. The proceedings led by the US prosecutors were taken up on two charges: one count of money-laundering under Section 3 of the Prevention of Money Laundering Act (PMLA), 2002, and one count of criminal conspiracy under Sections 120-B (criminal conspiracy) and 201 (disappearance) of the Indian Penal Code.
Nehal, 46, is an accused in an alleged '13,000-crore fraud, one of the largest such involving the Punjab National Bank. It has been alleged that the fraud was orchestrated by the two brothers and their uncle Mehul Choksi. Born and brought up in Antwerp, Belgium, Nehal is wanted in India for laundering proceeds of crime on behalf of his brother, Nirav Modi, who is lodged in a London prison facing extradition proceedings from the UK on an Indian request.
Nehal has been named in the chargesheet filed by the ED in this case and has been charged with destruction of evidence and “knowingly and intentionally” assisting Nirav Modi in his alleged illegal acts, they said. He allegedly concealed and transferred large sums of illicit funds.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
