UK police arrest jeweler Modi

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Diamond tycoon Nirav Modi, whose jewels once adorned stars from Bollywood to Hollywood, was arrested in London Tuesday, more than a year after Indian authorities alleged he was involved in a $1.8 billion bank fraud. Modi, 48, was detained in central London and remained in custody overnight, the Metropolitan Police Service said. He is due to appear at London’s Westminster Magistrates’ Court for a bail hearing later Wednesday.

Indian authorities have sought Modi’s arrest since February 2018, when they alleged companies he controlled defrauded the state-owned Punjab National Bank by using fake financial documents to get loans to buy and import jewels. (AP)

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