PNB fraud case: Nirav Modi’s brother Nehal arrested in US after India's extradition request

Nirav Modi’s brother Nehal has been arrested in the United States, after the Enforcement Directorate and the Central Bureau of Investigation made an extradition request because of his involvement in money laundering and criminal conspiracy and destruction of evidence. The extradition proceedings of Nehal Modi, 46, a Belgian national, is underway in US Court according to information given by the US Department of Justice. The next hearing is scheduled on July 17, 2025

Nehal was accused of orchestrating a ₹13,000-crore fraud involving the Punjab National Bank along with his brother Nirav Modi, and uncle Mehul Choksi, who is in detention in Belgium thanks to India's extradition request. Nehal had allegedly assisted his brother in concealing and transferring illicit funds through a network of shell companies and overseas transactions in what is believed to be one of the biggest financial frauds in India.

In 2020, a New York Supreme Court had indicted Nehal Modi for fraudulently obtaining diamonds worth over $2.6 million from LLD Diamonds, a US company according to a PTI report. Nehal had managed to obtain the diamonds in 2015 using favourable credit terms and consignment and then liquidated the diamonds. Industry associates had introduced Nehal to the president of LLD Diamonds.

The Interpol had issued a Red Corner Notice (RCN) against Nehal in 2020 on charges of money laundering. The notice asks its 192 member countries to arrest or detain a person if they are spotted in the country. 

Nirav Modi, currently lodged in a London prison, is also facing extradition proceedings from the UK court.

The PNB fraud case had come to light when Nehal along with Nirav’s close confidant and executive Mihir R. Bhansali allegedly "took 50 kg gold and substantial cash from Dubai, and directed dummy directors not to reveal his name before the authorities", according to the ED. 

India