Nehal Modi, the brother of fugitive diamond merchant Nirav Modi, was arrested in the United States following an extradition request by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
Nehal Modi, a Belgian national, is wanted in India in connection with the multi-billion-dollar Punjab National Bank (PNB) fraud case, which is one of the largest banking scams in the country’s history. Nehal’s brother Nirav Modi is the principal accused in this scam, which was first exposed in early 2018.
Nehal’s arrest comes as a significant development as India continues its efforts to bring those involved in the Rs 13,000 crore Punjab National Bank (PNB) fraud case to justice.
According to news agency ANI, the United States Department of Justice has informed Indian authorities that Nehal Modi was arrested by US authorities on July 4. “The arrest has been made pursuant to an extradition request jointly submitted by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI),” the officials said.
The complaint filed by the US prosecution states that the 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.
ED and CBI probe has revealed that Nehal Modi also played a crucial role in laundering proceeds of crime on his brother Nirav Modi’s behalf, who is also facing extradition from the UK.
He is accused of playing a key role in hiding and moving substantial amounts of illicit money via a complex network of shell companies and international transfers, violating Indian laws.
The next hearing in the extradition case is scheduled for July 17, 2025, with a status conference scheduled for that day. According to officials, Nehal Modi is expected to seek bail during the proceedings, a move the US prosecution has indicated it will contest, ANI reported.
