On the date listed above,Â Judge Samuel Goozee of theÂ Westminster Magistrates’ Court said “I am satisfied that there is evidence that Mr. Modi could be convicted.”
In 1999, Nirav Modi, 49, founded a successful diamond sourcing company. Today, he is closer to being extradited to India for allegedly perpetrating a $2 billion fraud against Punjab National Bank in India. In that matter, Modi is alleged to have fraudulently obtained loan agreements. He is also facing a separate criminal investigation for laundering the money acquired from that fraud.
Modi’s legal team had argued that the allegations were a commercial dispute regarding ill-advised lending. Modi’s lawyers also claimed that none of his actions amounted to fraud. However, Judge Gooze was unconvinced.Â The judge also stated that Modi conspired to destroy evidence and intimidate witnesses.
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