Fugitive businessman Nirav Modi arrested in London; To be soon produced in court

PNB scam accused Nirav Modi has been on the run since January 2018 and is wanted for committing bank fraud of close to ₹13,000 crore

Fugitive businessman Nirav Modi arrested in London; To be soon produced in court
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Fugitive and economic offender Nirav Modi has been arrested in London after a warrant was issued against him on March 18. The Indian businessman will now be produced at the Westminster Magistrates' court on March 20.

As per the Reuters, the fugitive billionaire was arrested on March 19, Tuesday.

Earlier, a London court had issued the arrest warrant against Modi, who is the main accused in the Punjab National Bank scam case. The arrest warrant came in response to an Enforcement Directorate (ED) request for his extradition in a money laundering case.

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Meanwhile, the ED along with the Central Bureau of Investigation (CBI) has been investigating Modi, his uncle Mehul Choksi and others in regard to money laundering and corruption committed in 2018 at the PNB's Brady House branch.

Currently, Modi has been chargesheeted and his assets worth ₹1,873.08 crore have been attached under the Prevention of Money Laundering Act (PMLA). They have also seized assets linked to him and his family worth ₹489.75 crore.

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