Billionaire Nirav Modi flees to UK, claiming political asylum
Nirav Modi, the billionaire jeweller at the heart of a more than $2 billion fraud case + , has fled to the UK, where he is claiming political asylum, the News reported on Sunday, citing Indian and British officials.
Britain’s Home Office said, it does not provide information on individual cases.
Nirav Modi could not be contacted by Reuters for comment on the report.
Punjab National Bank, the country’a second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.