4 hours ago
Last Updated:July 05, 2025, 15:21 IST
Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, was arrested in the US on Saturday, July 5, upon extradition request from the CBI and ED
Nehal Modi, brother of fugitive diamond trader Nirav Modi | File Image
Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, was arrested in the US on Saturday, July 5, upon extradition request from the CBI and ED, according to reports.
Nehal Modi’s arrest comes five years after he was charged with fraud for allegedly acquiring diamonds worth over $2.6 million from LD Diamonds USA, one of the world’s largest diamond firms based in Manhattan.
The extradition proceedings against Nehal Modi are set to continue on July 17, 2025, with a status conference scheduled for that day. Modi is expected to seek bail during the hearing, a move the US prosecution has already indicated it will oppose.
Sources claim that Nehal Modi acquired diamonds from the company by falsely claiming they were meant for a deal with Costco—a deal that ultimately never materialised.
Instead of honouring the payment terms, he allegedly pawned and sold the diamonds for his own financial benefit.
His arrest came after an extradition request by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), who have been probing his involvement in the PNB loan fraud case and $2.6 million fraud case linked to LLD Diamonds USA.
Notably, the arrest marks a significant step forward in the ongoing investigation into the Modi family’s alleged financial misconduct.
PNB Scam
Nehal Modi has also been chargesheeted in the Punjab Bank (PNB) scam, one of India’s biggest financial frauds, for allegedly helping brother Nirav Modi secure fake credit letters in a multi-billion-dollar scheme.
The Rs 13,500 crore PNB loan fraud case first came to light in early 2018, involving fugitive Mehul Choksi, his nephew Nirav Modi and many accomplices, including certain PNB officials.
Along with Choksi, Fugitive diamond trader Nirav Modi also faced legal setbacks in his appeal against extradition to India.
The UK High Court ruled on May 17 that sending him to India to stand trial would not breach his human rights.
Meanwhile, a Belgian court also rejected a petition filed by Choksi, in which he challenged his arrest and sought immediate release, citing procedural lapses.
Choksi was taken into custody by Belgian authorities in April after India formally requested his extradition.
Location :United States of America (USA)
First Published:News world Nehal Modi, Fugitive Nirav Modi's Brother, Arrested In US After CBI-ED Extradition Request
