Indian fugitive celebrity jeweller arrested in London
Modi is accused of involvement in a massive bank fraud that rocked India's corporate community.
LONDON (AFP) - Nirav Modi, India s fugitive jeweller to the stars, has been arrested in London and faces an extradition hearing on Wednesday, police said.
Modi is accused of involvement in a massive bank fraud that rocked India s corporate community.
Modi, 48, owned luxury jewellery stores in several major cities across the world and boasted celebrity customers including actresses Naomi Watts, Kate Winslet and Priyanka Chopra-Jonas before his downfall last year.
A spokesman for London s Metropolitan Police told AFP that Modi was arrested on behalf of the Indian authorities in the British capital on Tuesday.
He was due to appear at a London court on Wednesday, the spokesman said.
Modi fled India in February 2018 after being accusd of having a central role in a $1.8-billion fraud involving Punjab National Bank (PNB), the country s second-largest public lender.
Earlier this month, Indian authorities dynamited the fugitive billionaire s multi-million-dollar seafront mansion.
The 33,000 square-foot (3,000 square metre) property near Mumbai, believed to be worth $14 million, had been seized.
Forbes estimated Modi s wealth at $1.73 billion before the alleged fraud, placing him 85th on India s rich list.
