UK Denies Nirav Modi Bail in $750M Fraud Case

A London court has denied bail for Indian diamond magnate Nirav Modi for the tenth time as he awaits extradition to India over his alleged involvement in a $750 million Punjab National Bank fraud and money laundering case. Modi, detained in the UK since March 2019 after fleeing India, has lost multiple extradition appeals, with the UK High Court already approving his extradition. However, confidential legal reasons are currently delaying his immediate surrender to Indian authorities. Modi's lawyers argued he would not abscond due to fears of reprisals, referencing claims of extrajudicial actions abroad, which India denies. Prosecutors, supported by India's Central Bureau of Investigation, opposed bail, highlighting flight risk, potential witness tampering, and Modi's past attempt to acquire Vanuatu citizenship. The court ruled in favor of the prosecution, keeping Modi in custody pending further legal proceedings.