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Indian billionaire jeweller Nirav Modi flees to UK, claiming political asylum - FT


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Indian billionaire jeweller Nirav Modi flees to UK, claiming political asylum - FT

 

2018-06-10T213230Z_2_LYNXMPEE590XQ_RTROPTP_3_PUNJAB-NATL-BANK-FRAUD.JPG

A Nirav Modi showroom is pictured in New Delhi, India, February 15, 2018. REUTERS/Adnan Abidi

 

(Reuters) - Nirav Modi, the billionaire jeweller at the heart of a more than $2 billion fraud case in India, has fled to the UK, where he is claiming political asylum, the Financial Times 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 FT report.

 

Punjab National Bank <PNBK.NS>, India's 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.

 

Nirav Modi is in London trying to claim asylum from what he calls "political persecution", the FT reported.

 

India's ministry of external affairs told the FT the Indian government was waiting for the country's law enforcement agencies to approach them before pushing for an extradition, which had thus far not happened. The ministry did not respond to a Reuters request for comment outside regular working hours.

 

India is already seeking the extradition of Vijay Mallya, a liquor and aviation tycoon, over unpaid loans to his defunct Kingfisher Airlines after the businessman and co-owner of the Formula One Force India team moved to Britain in March last year.

 

Indian federal police filed charges against more than 25 people in May including Modi, Choksi, former PNB chief Usha Ananthasubramanian, two of the bank's executive directors and three companies belonging to Nirav Modi.

 

Modi and Choksi have denied any wrongdoing.

 

Last month, senior executives at the bank were accused by the Indian police, in a charge sheet filed in court, of misleading the central bank in late 2016 over the lender's handling of the financial messaging system and credit guarantees that were at the centre of the fraud.

 

(Reporting by Kanishka Singh in Bengaluru; Editing by Peter Cooney and Chris Reese)

 
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-- © Copyright Reuters 2018-06-11
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15 minutes ago, RuamRudy said:

If you are a billionaire and/or a politician caught in some corruption

14 minutes ago, RuamRudy said:

the UK government will welcome you with open arms. 

 

Corrected slightly

 

If you are a billionaire and involved in alleged wrong doings the City Of London will welcome you with open arms. 

 

I assume he is staying temporarily with ‎Vijay Mallya

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Penniless Indians wouldn't have a chance. The new term for 'they are trying to get back the money I scammed' appears to be political persecution. With London being well stocked with bankers, businessmen, political refugees and just plain old crooks on the run he will fit right in and as long as he buys his mansion in Mayfair and "invests' in a football team there is little chance he will be thrown back.   

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2 hours ago, VocalNeal said:

 

Corrected slightly

 

If you are a billionaire and involved in alleged wrong doings the City Of London will welcome you with open arms. 

 

I assume he is staying temporarily with ‎Vijay Mallya

the indian government is attacking money, not so sure this guy is a wrong doer so much as a rich target

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4 hours ago, Lungstib said:

Penniless Indians wouldn't have a chance. The new term for 'they are trying to get back the money I scammed' appears to be political persecution. With London being well stocked with bankers, businessmen, political refugees and just plain old crooks on the run he will fit right in and as long as he buys his mansion in Mayfair and "invests' in a football team there is little chance he will be thrown back.   

Do not think that is the case . Correct me if I am wrong but once one of the family has emigrated legally to the UK his close family members have the right to join ,  according to Heathrow Terminal 3 

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The UK will generally be very fair and 'British' with asylum claims. The UK is a very fair, honorable and sensible country with regards to peoples' freedom around the world and, I am sure, will continue to be so. But if there are problems, Britain will also remove the offenders. Politics will always come into it, unfortunately, but I was very happy to see Russians having problems despite all of their (illgotten) wealth.

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