Nehal Modi Rearrested in US Over Role in ₹13,500 Crore PNB Scam; Extradition to India Likely
Nehal Modi, Nirav Modi’s brother, rearrested in the US over the ₹13,500 crore PNB scam. Faces charges of money laundering and evidence destruction; extradition to India likely soon.
NETB24
Washington/Delhi: Nehal Modi, the younger brother of fugitive diamond tycoon Nirav Modi, has been rearrested in the United States following a fresh international warrant issued by Interpol in connection with the massive ₹13,500 crore Punjab National Bank (PNB) fraud. The arrest comes shortly after Nehal completed a three-year prison sentence in the US in an unrelated case.
Nehal, a Belgian national, was taken into custody on Friday on the basis of a Red Notice issued by Interpol and a formal extradition request submitted by Indian authorities. He now faces multiple charges, including money laundering under Section 3 of the Prevention of Money Laundering Act (PMLA), criminal conspiracy, and destruction of evidence.
According to a U.S. prosecution complaint, Nehal Modi played a key role in covering up the fraudulent activities carried out by Nirav Modi and his associates. He allegedly managed accounts, tampered with financial records, and systematically eliminated evidence of the crime. Indian investigative agencies also claim he influenced employees, destroyed digital data, and directly oversaw the transfer of tainted assets, including 50 kilograms of gold from Dubai, and diamonds worth $6 million from Hong Kong.
Nehal, along with Nirav Modi, Mehul Choksi, and Mihir Bhansali, has been accused of manipulating Letters of Undertaking (LoUs) to siphon off funds from PNB. He is also alleged to have intimidated witnesses, moved them abroad, and coerced them into signing falsified statements, including in Cairo, Egypt.
While Nirav Modi remains in a UK prison—his extradition delayed by multiple appeals—and Mehul Choksi was recently arrested in Belgium after fleeing to Antigua and Barbuda, Indian authorities are hopeful that Nehal’s extradition will proceed swiftly following this latest development.
With his re-arrest, Indian agencies are preparing for the legal steps needed to bring Nehal Modi back to India to stand trial in one of the country’s largest financial fraud cases.
