Was Nehal Modi, Nirav Modi's Brother, Arrested in the US on Extradition Request from India?
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Synopsis
In a major development, Nehal Modi, the younger brother of notorious fugitive Nirav Modi, has been arrested in the US. The extradition request from India highlights the ongoing battle against financial fraud and international crime. This arrest brings renewed scrutiny to one of India’s largest banking scandals and reveals the complexities of international law enforcement.
Key Takeaways
- Nehal Modi has been arrested in the US on extradition requests from India.
- He is accused of aiding his brother in the PNB scam.
- The scam has caused losses exceeding Rs 13,500 crore to the Indian banking system.
- International cooperation is crucial in financial crime investigations.
- The case will continue to unfold with the next hearing scheduled for July 17, 2025.
New Delhi, July 5 (NationPress) The younger brother of fugitive diamantaire Nirav Modi, Nehal Deepak Modi, has been apprehended in the United States following an extradition demand from Indian central agencies, according to sources.
On July 4, local authorities in the US executed his arrest based on a Red Corner Notice issued by Interpol, at the behest of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
Nehal, a 46-year-old Belgian national, is accused of supporting his brother, Nirav Modi, in executing one of India's most significant banking frauds—the Rs 13,500 crore Punjab National Bank (PNB) scam.
Indian authorities claim that Nehal Modi was instrumental in assisting his elder brother by destroying vital evidence, intimidating witnesses, and hindering the investigation following the scandal.
He is also accused of laundering illicit funds generated from the PNB scam that captured national headlines in 2018, allegedly collaborating with his brother. Investigators assert that he channeled illegal money through shell companies and overseas transactions.
Sources indicate that the next court hearing for this case is set for July 17, 2025, where Nehal may request bail, although prosecutors have signaled their intention to contest it.
Importantly, the PNB scam is estimated to have inflicted losses exceeding Rs 13,500 crore on the Indian banking sector. Of this total, Nirav Modi is accused of misappropriating Rs 6,498.20 crore, while his uncle Mehul Choksi is alleged to have diverted Rs 7,080.86 crore.
Both Nirav Modi and his uncle Choksi fled India in January 2018, mere weeks before PNB alerted law enforcement to the irregularities.
The duo faces multiple legal challenges, with Nirav Modi having been arrested in the UK in 2019 and currently remaining in custody in a London prison, while Choksi, now residing in Antigua, is engaged in separate legal proceedings, including a challenge to his citizenship.
This remarkable arrest highlights the international collaboration essential in financial crime investigations and renews focus on one of the most infamous banking scandals in Indian history.
Point of View
It is imperative to highlight the significance of international collaboration in tackling financial crimes. The arrest of Nehal Modi not only brings justice closer in the high-profile PNB scam but also emphasizes the need for robust legal frameworks that address such complex international issues. Our commitment to providing accurate and timely news remains steadfast.
NationPress
22/07/2025
Frequently Asked Questions
Who is Nehal Modi?
Nehal Modi is the younger brother of fugitive diamantaire Nirav Modi, accused of aiding in one of India's largest banking frauds.
Why was Nehal Modi arrested?
He was arrested in the United States following an extradition request from Indian authorities related to his involvement in the Punjab National Bank scam.
What is the Punjab National Bank scam?
The Punjab National Bank scam is one of India's largest banking frauds, involving the misappropriation of over Rs 13,500 crore.
What are the implications of this arrest?
This arrest underscores the importance of international cooperation in tackling financial crimes and may lead to further developments in the ongoing investigations.
When is the next court hearing?
The next hearing in Nehal Modi's case is scheduled for July 17, 2025.
