Nirav Modi now running UK business listed as “wholesale trader in jewellery”

By

Isabelle Crossley

Published
Mar 11, 2019

The fugitive jewellery tycoon Nirav Modi is now running a new jewellery business in London, UK, after his Mayfair flagship store was closed down.

Modi, who left India in January 2018 before news of his alleged fraud at the Punjab National Bank (PNB) broke, was believed to be residing in the UK and was recently spotted in London by English reporters for the Daily Telegraph. Following a brief interview with Modi, who answered “no comment” to every question, TNN has reported that Modi is living in the UK and running a new business there.

Modi’s new business is listed as a “wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores,” as reported by TNN. The new business, based in Soho, is close to Modi’s luxury apartment in London’s West End. Although Modi’s immigration status in the UK is not known, the Daily Telegraph reported that he has a National Insurance number, needed for work in the UK and only attainable by person’s eligible to do so. 

Interpol issued a Red Corner Notice (RCN) against Modi in July last year making him an official fugitive. The RCN stated that Modi was “wanted for criminal conspiracy, criminal breach of trust, cheating, dishonestly inducing delivery of property and money laundering."

Modi has so far refused to return to India to stand trial and India is currently trying to negotiate his extradition with UK authorities. Modi’s uncle and fellow accused Mehul Choksi has fled to Antigua where he is residing after taking citizenship. Indian authorities are also trying to secure Choksi’s extradition.