Nirav Modi is the focus of two different sets of criminal proceedings know about his wife and net worth
The CBI case is about a big fraud against PNB, and the ED case is about how the money from the fraud was laundered.
On November 9, the High Court in London ordered that diamond trader Nirav Modi be sent to India to face fraud and money laundering charges in the Punjab National Bank (PNB) loan scam case, which are said to be worth $2 billion.
Who Is Nirav Modi, His Biography, Age, Wife, Company, Jewellery Brand, Net Worth, Story And News
Indian businessman Nirav Deepak Modi was born on February 27, 1971. He is on the run after being charged by Interpol and the Indian government in August 2018 with criminal conspiracy. Also criminal breach of trust, theft, and dishonesty, including the delivery of property, corruption, money laundering, fraud, embezzlement, and breach of contract.
BIG WIN AGAINST CORRUPTION!
India wins in UK court.. Nirav Modi will be extradited soon. Big win for Modi government and India. pic.twitter.com/DICgipld7y
— Pradeep Bhandari(प्रदीप भंडारी)🇮🇳 (@pradip103) November 9, 2022
Modi is being looked into because of a $2 billion fraud case at the Punjab National Bank (PNB). In March 2018, Modi filed for bankruptcy in New York City. Also Modi is said to have asked for political asylum while he was in the UK in June 2018. In June 2019, the Swiss government froze Nirav Modi’s assets. And all of the $6 million that was in his Swiss bank accounts.
Born In Gujarat, Brought Up In Belgium
Nirav Modi was born in the city of Palanpur, Gujarat, but he grew up in the city of Antwerp, Belgium. His family has been in the diamond business for so many generations. When he was 19, he and his father, Deepak Modi, moved to Mumbai so that he could work for his uncle, Mehul Choksi, who was the CEO of the Gitanjali Group, an Indian jewellery store with 4,000 stores.
Dropping Off From Wharton
Modi went to the Wharton School at the University of Pennsylvania, but he dropped out before he could finish. While he was in school, he met Ami, the daughter of diamond magnate Amukuraj Choksey. She would become his wife.
The three children Modi and his wife have are two daughters and one son. After India, they were said to have been living in a JW Marriott Essex House suite in New York City.
Lawsuit Is Filed By Union Bank Of India
The Union Bank of India filed a lawsuit Modi in a Hong Kong court. Also In a petition sent to the High Court on September 26, 2018, Union Bank said that Modi had guaranteed two loans given to Firestone Trading Private and Firestar Diamond on October 21 and November 15, 2011, respectively. After it was said that both of his businesses had missed payments, he had to pay the bank more than $5.49 million plus interest.
In March 2019, the Indian income tax authority sold 68 pieces of art from Modi’s collection. The art made £5.3 million, and a painting by Vasudeo S. Gaitonde sold for £2.6 million. The well-known music store Rhythm House in Kala Ghoda, Mumbai, will be put up for auction once its value is known. In 2017, Nirav Modi bought it.
Nirav Modi is married to Ami Modi, they have three children – two daughters and one son and in 2017, Nirav Modi featured on the Forbes rich list with an estimated net worth of US$1.8 billion.
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