UK approves extradition of Indian celebrity jeweller
NIRAV MODI’S LEGAL TEAM SET TO CHALLENGE HOME SECRETARY’S ORDER
THE Home Office said last Friday (16) it had approved the extradition of fugitive Indian jeweller Nirav Modi to his homeland, where he is accused of defrauding one of the largest banks of $1.8 billion (£1.29bn).
Modi, dubbed a jeweller to the stars thanks to celebrity customers in Hollywood and Bollywood, lost his legal bid to avoid extradition from the UK in February.
He fled India in February 2018 after being accused of having a central role in defrauding Punjab National Bank, one of India’s largest lenders, of $1.8bn.
Home secretary Priti Patel had two months to approve his extradition, which was ordered by district judge Sam Goozee following two years of court hearings.
Goozee ruled there was enough evidence to suggest there was a criminal case against Modi in India.
“On 25 February the district judge gave judgment in the extradition case of Nirav Modi. The extradition order was signed on April 15,” a spokeswoman for the Home Office said in a statement.
Modi has 14 days to begin an appeal of Patel’s decision.
Zulfiquar Memon of Indian law firm MZM Legal, who is part of the team representing Modi in his extradition case, said, “The legal team is in the process of challenging the order in the UK high court, which may happen any time soon.”
Punjab National Bank (PNB), India’s second-largest state-run bank, in 2018 said two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it by raising credit from other Indian banks using illegal guarantees issued by rogue PNB staff.
Both Modi and Choksi any wrongdoing.
Before the alleged fraud which rocked corporate India, Forbes magazine estimated his wealth at $1.73bn (£1.24bn), placing him 85th on India’s rich list.
He was arrested in London in March
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denied 2019, and has been held in prison on remand while his case has been litigated.
The 49-year-old is also accused of money laundering as well as witness intimidation and destroying evidence.
In his February ruling Goozee dismissed submissions from his legal team that he would not be treated fairly in India and said there was not enough evidence from doctors to believe that he was at risk of taking his own life.
Modi owned luxury jewellery stores in several major cities across the world and boasted customers including actresses Naomi Watts, Kate Winslet and Priyanka Chopra-Jonas before his downfall.
In March 2019, his art collection was auctioned off, raising $8 million (£5.74m) for the Indian tax authorities.
Authorities also dynamited Modi’s seafront mansion. The 33,000 sq ft (3,000 sq m) property near Mumbai, believed to be worth $14m (£10.05m), had been seized.