- Interpol’s RCN against Nirav’s younger brother Nehal Modi
- Nehal, a Belgian national, lives in New York City
- Nirav remanded to custody in London jail until September 19
- Wanted in the Rs.14,000 cr PNB fraud and destruction of evidence.
New Delhi: Amid speculation of fugitive diamantaire Nirav Modi’s possible extradition from the United Kingdom later this year, the Interpol has issued a Red Corner Notice (RCN) against his younger brother Nehal Modi, against whom India had sent a request a few months ago.
According to Interpol, the global arrest warrant against the 40-year-old Nehal, currently living in New York City, was issued on charges of alleged money laundering and destruction of evidence, being probed by the Enforcement Directorate (ED) of the Indian Ministry of Finance. He can now be arrested in any country.
Nehal Deepak Modi, a Belgian national, was born in Antwerp, Belgium. He had been named in the charge-sheet filed by the ED in the Rs 14,000-crore (USD 2 billion) Punjab National Bank (PNB) scam.
The ED had requested Interpol to issue an RCN against Nehal for allegedly helping elder brother Nirav launder funds. Nehal “knowingly and intentionally” helped Nirav divert money to shell firms and destroyed key evidence. He was the director of a now-defunct company, Firestar Diamonds Inc., USA, which filed for bankruptcy soon after the Modis fled India.
According to the ED, Nehal destroyed evidence in dummy companies set up by Nirav in the UAE, Hong Kong, British Virgin Islands, USA, Barbados and other places. Communications between these shell corporations were carried out through the UAE-based secure servers which Nehal allegedly destroyed after the case exploded. These servers contained details about their secret emails created especially for illegal Lettes of Undertaking (LoUs) from PNB.
On August 29, the Central Bureau of Investigation had urged a special CBI court that Nirav, Nehal and an associate Subhash Parab be declared proclaimed offenders.
According to the investigators, Modi and his uncle Mehul Choksi, in connivance with certain PNB officials, allegedly cheated the bank’s Mumbai branch to the tune of Rs 14,000 crore (USD 2 billion) through issuance of fraudulent LoUs to the group of the family’s companies since March 2011 until the case came to light.
