Bail is denied for designer Modi

LONDON — Nirav Modi, whose opulent necklaces have been worn by A-list celebrities, was in custody here after being denied bail following his arrest this week in a bank fraud case in India totaling nearly $3 billion.

The Indian government wants to extradite Modi from Britain to face charges that he, his family and his business associates assembled a global empire with money obtained illegally, mostly from government-run banks.

Modi, whom authorities had sought since early last year, was arrested in London on Tuesday after trying to open a bank account, according to news reports.

Modi’s lawyer, George Hepburne Scott, said at a bail hearing Wednesday that Modi had been in living lawfully in London since before the allegations were made last year, according to Reuters. But the district judge, Marie Mallon, was not persuaded and denied bail.

Modi’s designs have graced the ears and collarbones of stars such as Taraji P. Henson and Kate Winslet. He has mingled with royalty, and he met with Indian Prime Minister Narendra Modi, who is not related to him, in Davos, Switzerland, last year.

But just a week after the meeting with the prime minister, a state-run bank told regulators that it had uncovered nearly $1.8 billion in fraudulent transactions linked to Modi’s account.

At that point, Modi fled. Reporters camped outside a hotel in New York where they believed he was staying, and the Daily Telegraph in Britain tracked him down in London’s West End this month.