Gold, platinum and diamond jewelry belonging to Nirav Modi’s Firestar Diamond International will be sold by liquidators in Mumbai, India, in an e-auction next month. The fugitive jeweler, aged 51, is accused of fraudulently using letters of undertaking offered by the Punjab National Bank (PNB) in an alleged $1.85bn fraud. No reserve price has yet […]

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Diamonds, pearls and other jewelry valued at $177m have been seized by Indian officials investigating fugitive billionaire Nirav Modi and his uncle Mehul Choksi. Last week a court-approved the confiscation of assets for the first time since the Fugitive Economic Offenders Act came in to force two years ago. A total of 108 packages allegedly […]

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GCal Laboratories will be showcasing $3,5 million worth of Nirav Modi’s jewelry retail chain collections. Among the to be auctioned collections of the fugituve, bankrupt diamantaire are platinum and 18-karat gold collection suites such as Embrace, Luminance, Mughal, Lotus, Celestial and Jasmine. The Embrace Collection (expandable) includes bracelets, wedding bands, and necklaces. In the past, […]

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The central figure in an alleged $2bn fraud that rocked India’s state-owned Punjab National Bank has been arrested in London in response to a request from New Delhi to extradite him. Nirav Modi, a celebrity jeweller whose boutiques were in some of the world’s most prestigious shopping districts, was refused bail by a Westminster magistrates’ […]

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