Nirav Modi, who has a famous namesake luxury diamond jewellery brand, has figured in Forbes India’s Richest People List 2016 with a net worth of $1.74 billion, is being involved India’s biggest ever scam of $1.77 billion at a single branch of PNB. However, it’s been learnt that he has left the country like other famous personalities.
State-run Punjab National Bank (PNB) has detected some “fraudulent and unauthorised” transactions worth about Rs 11,300 crore at one of its branches in Mumbai. He allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.
Having boutiques on the high streets of fashion capitals,which includes two in the U.S., one in Beijing, two in Hong Kong and two in India.Modi’s jewellery has been featured in top fashion magazines and sighted adorning top fashion and film stars at events.
Lately actress Priyanka Chopra, the global brand ambassador of Nirav Modi diamond jewellery house, sued the designer’s company for defrauding her. It was alleged that Chopra’s management blamed him for non-payments for their endorsement deals.
Modi’s website describes him as having been brought up in Antwerp, a city known as the diamond capital of the world and inhabited by a large Indian population. He’s the son and grandson of “experienced diamantaires”, it adds but provides no further detail.
