Nehal Modi, younger brother of fugitive diamantaire Nirav Modi, has been indicted here on the charge of fraudulently obtaining diamonds worth over $2.6 million from one of the world’s biggest diamond companies in Manhattan.
Nehal, 41, faces the charge of grand larceny in the first degree, Manhattan district attorney Cy Vance Jr said in a statement on Friday.
“While diamonds may be forever, this flawed scheme was not, and now Modi will face the clarity of a New York Supreme Court indictment,” Vance said.
Interpol had earlier issued a red-corner notice against Nehal on charges of money laundering that are being probed by India’s Enforcement Directorate.
Fugitive Indian Jeweler Nirav Modi s Brother, Nehal Modi, Charged in $2 6 Million Fraud in New York
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Nirav Modi s younger brother Nehal booked for $2 6mn fraud - india news
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Nirav Modi’s brother Nehal charged in $2.6mn fraud
IANS / Updated: Dec 21, 2020, 06:00 IST
Nehal Modi allegedly made false representations to obtain $2.6
mn worth of
diamonds from a company on favourable credit terms and liquidated them
NEW YORK Nehal Modi, the brother of fugitive jewellery merchant Nirav Modi, has been charged by a New York prosecutor in an
alleged $2.6 million fraud carried out through a multilayered scheme to cheat one of the world’s biggest diamond companies.
Announcing the charges against Nehal Modi on Friday, the prosecutor, Cy Vance, said, “While diamonds maybe forever, this flawed scheme was not, and now