Nehal Modi, brother of fugitive jeweller Nirav Modi, has been arrested in the United States on July 4, 2025. His arrest follows an extradition request from India’s Enforcement Directorate and CBI. He is accused of playing a major role in the Rs 13,000 crore Punjab National Bank scam, one of the biggest banking frauds in India.
Officials say Nehal helped launder money, hid assets, destroyed evidence, and misled investigators. He also reportedly moved gold, diamonds, and cash from Dubai and Hong Kong after the scam came to light. Nehal is said to have managed accounts, tampered with records, and even forced witnesses to sign false statements.
He was supported by another key accused, Mihir Bhansali. Nehal also allegedly offered money to a witness to give false testimony in Europe.
The scam involves fake letters of undertaking from PNB, with Nirav Modi, Mehul Choksi, and others at the center. Nirav Modi is currently facing extradition from the UK.
This post was last modified on 6 July 2025 10:43 am
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