Nirav Modi: Further raids carried out as Indian authorities widen bank loans probe

• Rithika Siddhartha
• 16 February, 2018

By: Rithika Siddhartha

  INVESTIGATORS in India raided the offices of jewellery retailer Gitanjali today (16) in a widening probe into a $1.77 billion loan fraud at state-run Punjab National Bank, the biggest bank scam in the country’s history. The case is centred around diamond billionaire Nirav Modi who is accused of colluding with bank employees to fraudulently obtain advances for payments to overseas suppliers to his business stretching from New York to London to Beijing. A file photo shows Nirav Modi with Prince Charles at an event in New Delhi in November last year Yesterday (15), companies linked to Modi, who is…

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