Nehal Modi, brother of fugitive Nirav Modi, arrested in US on India’s extradition request

Nehal Modi, the younger brother of fugitive Nirav Modi, has been arrested in the United States following an extradition request made by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), officials told news agency PTI on Saturday (Jul 5). Nehal Modi, who is also implicated in the PNB scam case, was taken into custody on Friday (Jul 4), according to the US Department of Justice.

As per the complaint filed by the US prosecution, Nehal Modi’s extradition proceedings, which were jointly submitted by the CBI and ED, are being pursued on money laundering under Section 3 of the Prevention of Money Laundering Act (PMLA) 2002 and criminal conspiracy under Sections 120-B and 201 of the Indian Penal Code (IPC).

Nehal Modi is wanted in India in connection with the multi-billion-dollar Punjab National Bank (PNB) fraud case, one of the largest banking scams in India. The investigation by the central agencies revealed that he played a key role in laundering schemes on behalf of his brother, Nirav Modi. Reportedly, the fraud was orchestrated by the two brothers and their uncle, Mehul Choksi.

The officials have alleged that Nehal helped in counselling and transferring a large amount of illegal funds through a network of shell companies and overseas transactions, violating Indian laws. According to the charge sheet filed by the ED, he was charged with destruction of evidence and “knowingly and intentionally” assisting Nirav Modi in his alleged illegal acts.

Born and brought up in Belgium, Nehal Modi’s next date for the hearing in the matter is July 17, when he is expected to seek bail. However, US prosecutors are expected to oppose the bail, PTI reported, citing officials. Meanwhile, Nirav Modi has been lodged in a London prison and is facing extradition proceedings after being arrested in the UK at India’s request.