Judge Approves Modi's Extradition over Alleged $1.85bn Fraud
February 28, 21
(IDEX Online) - Fugitive diamond billionaire Nirav Modi should be extradited to India, a UK judge ruled, overruling arguments that his mental health would suffer and prison conditions were poor.
He is accused of fraudulently using letters of undertaking offered by the Punjab National Bank (PNB) in an alleged $1.85bn fraud.
He is accused of persuading corrupt bank workers to approve low-rate loans for importing foreign goods, which he used to pay off debts. He also faces charges of evidence tampering and intimidating witnesses.
"I am satisfied that Nirav Modi's extradition to India is in compliance per human rights," District Judge Samuel Goozee told Westminster Magistrates' Court, London, on Friday.
Modi, 49, (pictured) has opposed extradition since he was arrested in London in March 2019 as India's most wanted man.
He still has the opportunity to appeal against the extradition ruling, which could extend the legal process for many more months.