Nehal Modi arrested in US after India’s extradition request over PNB scam
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New Delhi: Fugitive diamantaire Nirav Modi’s younger brother, Nehal Deepak Modi, has been arrested in the United States following an extradition request from Indian central agencies, according to sources.
His arrest on July 4 came after Interpol issued a Red Corner Notice at the request of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
Nehal Modi, a 46-year-old Belgian national, is accused of assisting his brother Nirav Modi in executing one of India’s largest banking frauds—the ₹13,500 crore Punjab National Bank (PNB) scam.
Indian authorities allege that Nehal played a key role in the aftermath of the scandal by helping Nirav destroy crucial evidence, intimidate witnesses, and obstruct the investigation.
Nehal is also accused of laundering black money generated from the scam, which made national headlines in 2018. Investigators claim he routed illicit funds through shell companies and overseas transactions.
According to sources, the next hearing in the case is scheduled for July 17, 2025, when Nehal may seek bail—though prosecutors have already indicated they will oppose the request.
The PNB scam is estimated to have caused losses exceeding ₹13,500 crore to the Indian banking system. Of this, Nirav Modi is accused of syphoning off ₹6,498.20 crore, while his uncle Mehul Choksi allegedly diverted ₹7,080.86 crore.
Both Nirav Modi and Choksi fled India in January 2018, just weeks before PNB reported the irregularities to law enforcement.
They now face multiple legal proceedings.
Nirav Modi remains in custody in a London prison following his 2019 arrest in the UK, while Choksi, currently in Antigua, is involved in separate legal battles, including a challenge to his citizenship.
This high-profile arrest underscores the international coordination underpinning financial crime investigations and brings renewed attention to one of the most notorious banking scandals in Indian banking history.
(inputs from IANS)
