Fugitive businessman Nirav Modi has been reportedly spotted in New York and is still travelling on a suspended Indian passport.
Passports of Nirav Modi and his uncle Mehul Choksi got suspended in February. The Central Bureau of Investigation (CBI) also approached the Interpol to locate the duo. The agency then hinted that Nirav and his wife were spotted in Manhattan and were reportedly staying in a suite at JW Marriott’s Essex House.
Nirav Modi is accused of colluding with bank employees to fraudulently obtain advances for payments to overseas suppliers to his business stretching from New York to London and Beijing. Punjab National Bank (PNB), the second largest government bank, says it has been swindled off Rs. 12,000 crores through the fraud guarantees for Nirav Modi and his relative, diamond merchant Mehul Choksi.
While trying to bring super-rich fugitives like Nirav Modi, Mehul Choksi and Vijay Mallya back to the country to face the law, the government has approved an order by which their properties can be confiscated without conviction and used to pay off lenders.
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