On the date listed above,� Judge Samuel Goozee of the� Westminster Magistrates’ Court said “I am satisfied that there is evidence that Mr. Modi could be convicted.”
In 1999, Nirav Modi, 49, founded a successful diamond sourcing company. Today, he is closer to being extradited to India for allegedly perpetrating a $2 billion fraud against Punjab National Bank in India. In that matter, Modi is alleged to have fraudulently obtained loan agreements. He is also facing a separate criminal investigation for laundering the money acquired from that fraud.
Modi’s legal team had argued that the allegations were a commercial dispute regarding ill-advised lending. Modi’s lawyers also claimed that none of his actions amounted to fraud. However, Judge Gooze was unconvinced.� The judge also stated that Modi conspired to destroy evidence and intimidate witnesses.
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