Nehal Modi arrested in US: Fugitive Nirav Modi's brother held on ED, CBI plea; wanted in PNB scam case
Nirav Modi's brother Nehal Modi, who is also implicated in the PNB scam case, has been taken into custody in the USA following extradition requests submitted by the ED and CBI on counts of money laundering and criminal conspiracy.
The brother of fugitive economic offender Nirav Modi was arrested by US authorities on July 4, according to information given by the United States Department of Justice. The arrest occurred pursuant to an extradition request jointly submitted by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).
According to the complaint filed by the US prosecution, extradition proceedings are being pursued on two counts: 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 and 201 of the Indian Penal Code (IPC).
Nehal Modi is sought by Indian authorities in connection with the multi-billion-dollar Punjab National Bank (PNB) fraud case, one of the largest banking scams in the nation's history. Investigations conducted by the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) identified Nehal Modi as a key figure in laundering criminal proceeds on behalf of Nirav Modi, who is also facing extradition from the UK.
Nehal is alleged to have assisted in concealing and transferring substantial illicit funds through a network of shell companies and overseas transactions, violating Indian laws. The next hearing date for the extradition proceedings is scheduled for 17 July 2025, when a status conference will be held. He may apply for bail during this session, which the US prosecution has stated it will oppose.
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