The younger brother of fugitive diamantaire Nirav Modi has been arrested in the United States based on extradition requests from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), news agency PTI reported on Saturday, citing officials.Nehal Modi was taken into custody on Friday, and US authorities have formally informed India of the development, officials told PTI. The next hearing in the matter is scheduled for July 17, when Nehal is likely to seek bail. However, the US prosecutors are expected to oppose the bail plea.The extradition proceedings against Nehal Modi were initiated based on two charges: one count of money laundering under Section 3 of the Prevention of Money Laundering Act (PMLA), 2002, and one count of criminal conspiracy under Sections 120-B (criminal conspiracy) and 201 (causing disappearance of evidence) of the Indian Penal Code.Nehal Modi, 46, is a key accused in the Rs 13,000 crore Punjab National Bank (PNB) fraud case, one of the largest banking frauds in India, allegedly orchestrated by Nirav Modi, Nehal Modi, and their uncle Mehul Choksi.Born and raised in Antwerp, Belgium, Nehal Modi is fluent in English, Gujarati, and Hindi. He is wanted in India for allegedly laundering proceeds of crime on behalf of his brother Nirav Modi, who is currently lodged in a London prison and facing extradition proceedings to India.It is alleged that Nehal played a crucial role in concealing and transferring large sums of illicit funds through a network of shell companies and complex overseas transactions. The ED has named him in its charge sheet and accused him of destruction of evidence and of “knowingly and intentionally” assisting Nirav Modi in his alleged illegal activities.The ED also alleged that after the PNB fraud was exposed, Nehal Modi, along with Nirav’s close aide Mihir R Bhansali, allegedly transported 50 kg of gold and substantial amounts of cash from Dubai. They also reportedly instructed dummy directors not to reveal Nehal’s name to the authorities.(With inputs from PTI)
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