Nirav Modi’s brother held in US on ED, CBI extradition request
New Delhi: The US authorities have arrested Nehal Modi, the younger brother of scamster and fraudster Nirav Modi, accused of one of the biggest financial scams of 13000 crore rupees. He has been taken into custody on the basis of the extradition requests from the Enforcement Directorate and the CBI, officials said Saturday.
Nehal Modi was taken into custody on Friday, US authorities have informed India, they said.
This move came into immediate effect after the joint request by ED and CBI. He has been booked under two charges by US prosecutors: one count of money laundering under Section 3 of the Prevention of Money Laundering Act (PMLA), 2002, and one count of criminal conspiracy under Sections 120-B (criminal conspiracy) and 201 (disappearance) of the Indian Penal Code.
Nehal has been accused of a 13000 crore fraud, one of the largest financial scams ever done. He has been accused of transferring illegal funds through web channels of shell companies overseas, violating Indian law. Further, he has been charged by the ED in the charge sheet filed by the ED in this case and has been charged with destruction of evidence and “knowingly and intentionally” assisting Nirav Modi in his alleged illegal acts, they said.
(DD News)
