Judge Denies Fugitive Diamond Magnate Nirav Modi Bail for 10th Time
In a significant legal development, a UK judge has denied bail for the 10th time to Nirav Modi, the fugitive diamond tycoon wanted in India for his alleged role in the over $2 billion fraud at Punjab National Bank. Modi, who has been fighting extradition to India since his arrest in March 2019, had applied for bail citing concerns over his deteriorating mental health and the COVID-19 situation in prison.
However, District Judge Samuel Goozee of the Westminster Magistrates’ Court rejected the bail application, stating that there was a “substantial risk of absconding” given Modi’s “extensive international links” and “access to means” to flee the country. The judge highlighted Modi’s “clear ability to generate substantial funds” and said that the court could not be certain that the diamond merchant would not try to interfere with witnesses or tamper with evidence if released on bail.
This latest bail rejection is seen as a major setback for Modi, who has repeatedly failed in his attempts to secure release from custody since his arrest over two years ago. The 49-year-old has been lodged at the Wandsworth Prison in London, where his lawyers have raised concerns about his mental health deteriorating due to the harsh prison conditions and the risk of contracting COVID-19.
India has been pursuing Modi’s extradition since 2018, after he allegedly fled the country along with his uncle, Mehul Choksi, another key accused in the PNB scam. The Indian government has submitted a strong case against Modi, accusing him of money laundering, conspiracy, and disappearing with the proceeds of the fraud. The UK courts have so far upheld India’s extradition request, finding a prima facie case against the fugitive diamantaire.
With the latest bail denial, Modi’s legal team will now focus on challenging the extradition order during the final hearings scheduled for September 2021. The outcome of this case will have significant implications for India’s efforts to bring back economic offenders who have allegedly fled the country to avoid prosecution. The continued detention of Nirav Modi in a UK prison underscores the determination of the Indian authorities to pursue justice in one of the biggest banking frauds in the country’s history.
