A new four-part podcast series explores the remarkable ascent and eventual downfall of fugitive diamond businessman Nirav Modi, tracing the journey of his once-thriving Firestar Diamond empire and the financial scandal that shook India’s banking sector.
Created by The Telegraph journalists Mick Brown and Robert Mendick, The Diamond King revisits Modi’s rise as a global luxury jewellery entrepreneur and his dramatic fall from grace. The journalists recount how they located Modi in London in March 2019, more than a year after he fled India following allegations linked to the multi-billion-dollar Punjab National Bank (PNB) fraud.
Now 55, Modi remains in a UK prison while contesting extradition to India. He faces charges related to the alleged $1.8 billion PNB fraud, including money laundering and criminal conspiracy. Since his arrest in 2019, he has remained in custody, with most of his legal avenues against extradition reportedly exhausted.
The podcast recalls how Modi built an international luxury jewellery brand, opening flagship boutiques in prestigious locations such as New York, London, Macau and Hong Kong. His 2016 launch of a lavish store on London’s Old Bond Street marked the peak of his global ambitions and established his reputation in the high-end diamond market.
However, the series also investigates the growing questions surrounding the rapid expansion of his business empire and the origins of the enormous funds that fuelled it. Through interviews, reporting and behind-the-scenes accounts, the podcast examines how admiration for Modi’s success gradually gave way to suspicion and one of the largest banking fraud investigations in India’s history.
The opening episode, “All That Glitters,” introduces listeners to Modi’s transformation from an ambitious jewellery entrepreneur into an internationally recognised luxury brand owner, while foreshadowing the financial scandal that would ultimately bring his empire crashing down. The series poses the central question that continues to surround his legacy: was Nirav Modi a visionary jeweller or the architect of one of the world’s most notorious financial frauds?
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
