Indian fugitive billionaire Nirav Modi’s assets seized in London, New York
Authorities say they taken hold of some US$87 million worth of property, overseas bank accounts and diamond-studded jewellery to pile pressure on suspect in ongoing fraud case
The seized assets included overseas bank accounts and diamond-studded jewellery to the tune of US$3.1 million that had been brought back to India from Hong Kong in 23 shipments, the Enforcement Directorate (ED) said.
The jewellery had been shipped out after Indian federal police registered a case of fraud against Modi in January.
“The international cooperation has borne fruit,” the ED said in a statement. “This has resulted in (the) seizure and provisional attachment of jewellery, bank accounts and immovable properties worth US$87 million in India as well as four foreign jurisdictions.”
The list of seized assets include a London property worth about US$7.8 million and two others in New York valued at US$29 million.
Modi, last seen in Britain, fled India in February after authorities accused him of defrauding the Punjab National Bank.
