Case against Nirav Modi very short on proof, his legal team tells UK court

Modi’s legal team made the remarks a day after Crown Prosecution Service barrister Helen Malcolm, appearing on behalf of the Indian authorities, told the court that Modi acquired “eye watering amounts of money” fraudulently from the Punjab National Bank
Nirav Modi’s legal team on Tuesday told a UK court hearing the fugitive diamond merchant’s five-day extradition trial that the case of fraud and money laundering against him is not backed up with the underlying evidence that proves his dishonesty.

 
Modi’s legal team made the remarks a day after Crown Prosecution Service barrister Helen Malcolm, appearing on behalf of the Indian authorities, told the court that Modi acquired “eye watering amounts of money” fraudulently from the Punjab National Bank (PNB).

 
The 49-year-old jeweller is wanted in India on charges of defrauding PNB by deceitfully obtaining letters of undertaking (LoUs), or bank guarantees, and then laundering the proceeds of the funds through a complex set of worldwide transactions using dummy companies.



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