Fugitive Nirav Modi, the main accused in 13,000 crore PNB scam has been arrested in London. After Nirav Modi was spotted in London, UK courts granted an arrest warrant for him.
Nirav Modi was absconding from India since January 2018. Fugitive Nirav Modi is prime accused in Punjab National Bank fraud in India. Nirav Modi and his uncle Mehul Choski both are included in this scam. Both left India in January 2018 before the CBI started investigating the PNB scam. Mehul Choksi now holds the citizenship of Antigua and Barbuda and has cited illness and threat of mob lynching as reasons for not returning to India.
A UK based news paper released a video on 9th March of Nirav Modi wearing a jacket made from ‘ostrich’ which cost approximately 10,000 euro (in rupees above 9 lakh). He repeatedly answered ‘NO COMMENT’ to every question asked by the reporters. He was living in a three bed room flat likely rented 17,000 euro (in rupees above 15 lakh) the reporter said.