Finance
Modi's fugitive brother caught in the US - India just made a bold extradition move!
Nehal Modi, brother of fugitive diamantaire Nirav Modi, was arrested in the US on Saturday following an extradition request by India's CBI and ED. The 46-year-old faces charges in the ₹13,000 crore Punjab National Bank fraud case.
Nehal is accused of assisting in concealing and transferring illicit funds through shell companies and overseas transactions. The ED alleges he transported 50 kg of gold and cash from Dubai after the scam surfaced.
His next hearing is scheduled for July 17, where he may seek bail, though US prosecutors will oppose it. The extradition proceedings involve charges of money laundering under PMLA and criminal conspiracy under the Indian Penal Code. Meanwhile, his brother Nirav Modi remains in London prison facing similar extradition proceedings.
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