Billionaire jeweler Nirav Modi’s wealth and properties worth Rs. 637 crore in India and abroad have been seized by ED. High-priced jewellery, luxurious apartments and bank accounts stowing hundreds of crores have been taken over by investigators, in India and four other countries including England and New York.
Nirav Modi, wanted in a Rs. 13,000 crore fraud in which fake guarantees in the name of the state-run Punjab National Bank (PNB) were used to extract overseas loans, is believed to be in the UK.