Shock to fugitive Nirav Modi
US court dismisses plea of Nirav Modi. The Experts say this big thing for the future of India’s famous fugitive
Shock to fugitive Nirav Modi, US court dismisses plea
A New York court has dismissed a plea seeking quashing of fraud charges against fugitive diamantaire Nirav Modi and his associates. Richard Levine, a court-appointed trustee of three US companies Firestar Diamond, Fantasy Inc and A Jeff, made the allegations. Earlier the indirect owner of these three companies was Nirav Modi. Levin has also sought a minimum compensation of $15 million for the damages caused to the lenders to Modi and his associates Mihir Bhansali and Ajay Gandhi.
Indian-American lawyer Ravi Batra told, “Judge Lane in a clear judgment has rejected the plea of accused Modi, Bhansali and Gandhi seeking dismissal of the amended complaint by US trustee Richard Levine.”
Giving details of the 60-page order, Batra said Modi had planned to defraud Punjab National Bank and others to the tune of $1 billion to unfairly inflate the company’s share price to return the profits to his company in the form of additional sales. planted in
Batra said, “But to get money wrongly received from their companies by bank fraud, they indulged in another fraud to hide the withdrawal of money for their personal gain and they made it appear as if it were Have a normal business transaction.
Levin’s petition sought compensation for damages caused to borrowers and their assets by Modi and his associates as a result of Modi’s six-year international fraud, money laundering and embezzlement conspiracy, according to a court order.
