Who is Nirav Modi? 5-point guide to the man linked to massive PNB fraud

A day after the massive fraud at the Punjab National Bank’s Mumbai branch sent shockwaves across corporate world, all eyes are pinned on just one question – Who is Nirav Modi? Ever since the scam came to light, Modi’s name has been linked to the Rs 11,000 crore fraud, with many experts saying that the amount could go up. 

Here’s your 5-point guide to Nirav Modi and how he is linked to the Rs 11,000 crore scam:

1: Nirav Modi is a billionaire, who is known as a luxury diamond jewellery designer. Founder and creative director of the Nirav Modi chain, he has several retail outlets spread across the globe.

2: Modi also feature in Forbes billionaire list in 2017, he was ranked number 57 in the India list.

3: Modi is fairly well-known in the fashion circle. His designs have been worn by ‘50 Shades’ star Dakota Johnson and Taraji P Henson of ‘Hidden Figures’ fame. 

4: Bollywood actor Priyanka Chopra is the brand ambassador of the Nirav Modi chain.

5: Nirav Modi’s name first came up in the January 28 complaint by PNB to the CBI. After the complaint, the CBI had booked the 46-year-old for cheating. The PNB in its complaint has alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss". On Wednesday, the ED also registered a money laundering case against Modi and others. Earlier, Modi’s name was linked only to Rs 280 crore cheating case. However, on Wednesday, the CBI received two fresh complaints from PNB against Modi and a jewellery company alleging fraudulent transactions worth about Rs 11,400 crore.

(With agency inputs)