Indian diamond billionaire Nirav Modi tracked down to swanky London apartment

Union HRD minister Prakash Javadekar

Union HRD minister Prakash Javadekar

This move takes the process of extraditing and bringing back Modi to face the law in India to the next stage, the sources said.

Separately, he is being sued in the State of California for defrauding 4.2 million dollars from Los Angeles entrepreneur Paul Alfonso; in October 2018, Modi sold two custom diamond engagement rings to Alfonso that turned out to be lab diamonds.

According to The Telegraph reports, the PNB fraudster is living a king size life in the UK.

"The business, which was incorporated last May, is linked to his flat in Centre Point although he is not listed as a director at Companies House", the Telegraph reported, wondering how Modi's presence remained unnoticed by the British authorities.

Earlier, the Telegraph described Nirav Modi as "India's most wanted man", and was tracked down by the United Kingdom newspaper "to an £8 ($10) million apartment in London's West End".

In the video, Nirav Modi wore a changed look - with a handlebar moustache and long hair. His appearance differed from previous media records. "Sorry no comment", he said, before walking across the road, dressed in an GBP 10,000 black Ostrich hide jacket.

The daily said it had tracked him down to a three-bedroom apartment, which occupies half of a floor at the landmark Centre Point tower block, in London's West End.

A British daily reported that Modi, accused in the Dollars 2-billion Punjab National Bank (PNB) scam, is living in a swanky 8-million pound apartment in London's West End and is now involved in a new diamond business.

When confronted by the newspaper, Modi refused to comment if he has been granted political asylum in the United Kingdom or whether he is still trading in diamonds.

An interview and a video with the wanted diamantaire published early Saturday in the British newspaper, revealed that Modi has also started a new diamond business in Soho. The rent of the apartment is estimated to be around 17,000 pounds a month.

Reacting to the developments related to Nirav Modi's extradition and the fugitive businessman running a legitimate business in London, Ministry of External Affairs Spokesperson Raveesh Kumar on Saturday said the government would do everything that is necessary to bring him back.

The Indian authorities accused Modi and his uncle, Mehul Choksi, of fraudulently getting Punjab National Bank Letters of Undertakings, then using these to take out loans from overseas branches of Indian banks in February 2018.

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