As per the Financial Times, the famous diamond merchant Nirav Modi who was accused in the PNB probe is seeking a political asylum in London.
The Indian jeweler who has designed jewelry for Hollywood, as well as Bollywood celebrities, went missing after the PNB fraud in February. The Indian police issued a warrant for his arrest accusing him of the fraud.
All the Indian stores of the jewelry brand were closed, and assets including luxury cars were seized by the bank. Over the past decade, the diamond merchant Nirav Modi has established a jewelry brand across the globe. Presently the company operates as a multinational retail brand in New York, Hong Kong, and London and is highly trusted for diamond necklaces and earrings.
Kate Winslet, Rosie Huntington-Whiteley, Naomi Watts and other Hollywood stars have been wearing his jewelry products. Bollywood star Priyanka Chopra is often seen endorsing his products.
According to the report of Forbes Modi has a personal wealth of $1.75 billion and is among the richest men in the country. Earlier this year the Punjab National Bank alleged Nirav Modi and his uncle Mehul Choksi of defrauding the bank of $2.2 billion. The money lenders said that they had unapproved guarantees which were issued by a rogue PNB staff to the diamond merchant.