Indian diamond billionaire Nirav Modi loses appeal against extradition from UK | CNN



A London court on Wednesday rejected an appeal by Indian billionaire Nirav Modi against his extradition from the United Kingdom to India on charges of fraud and money laundering.

British police arrested the diamond dealer in London in 2019 for his alleged involvement in a bank fraud that could be worth $2 billion.

Modi’s lawyers last year challenged a court order allowing the British government to extradite the fugitive businessman, citing his mental health and suicide risk.

The Supreme Court of London rejected the appeal on Wednesday, saying Modi’s suicide risk does not rule out his extradition.

Justice Jeremy Stuart-Smith, one of the two judges, said they were “far from satisfied that Mr Modi’s mental state and risk of suicide are such that it would be unjust or oppressive to extradite him,” he said. the court’s decision. .

“On the basis of the assurances given by the (Indian Government), we accept that there will be appropriate medical facilities and an appropriate plan for the management and medical care of Mr Modi, which will be provided in the knowledge that he is a suicide risk,” the judges said.

Modi’s alleged fraud first came to light in 2018 when Punjab National Bank, one of India’s largest banks, reported fraudulent activity in one of its branches.

India then issued an Interpol Red Notice for Modi’s arrest and London authorities were asked to carry it out. India’s foreign ministry said in a statement at the time that it welcomed the arrest and would try to extradite Modi as soon as possible.

According to India’s Central Bureau of Investigation (CBI), Modi and bank officials have allegedly issued fraudulent Letters of Undertakings to foreign banks to obtain buyer credit.

Forbes once ranked Modi as the 85th richest man in India, with a net worth of $1.8 billion.

CNN contacted its attorney on Wednesday after the court’s ruling, but has yet to hear anything.

Modi, who is staying at Wandsworth Prison in London, can challenge Wednesday’s court ruling in the British Supreme Court.

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