Fugitive Brother Nabbed: Nehal Modi's US Arrest Sparks Judicial Tug-of-War

US authorities have arrested Nehal Modi, Nirav Modi's brother, following extradition requests by the Enforcement Directorate and CBI. Nehal faces charges of money laundering and criminal conspiracy related to the Punjab National Bank scam. His hearing is scheduled for July 17, where he may seek bail.

US authorities have apprehended Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, in relation to the massive Punjab National Bank (PNB) scam. The arrest comes after formal extradition requests from India's Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).

Modi, subject to an Interpol Red Notice, was taken into custody on Friday, as confirmed by US officials. The upcoming hearing on July 17 will address a bail plea, which US prosecutors are set to challenge. Modi is accused in a $1.7 billion bank fraud, a case that includes prominent figures such as his brother Nirav Modi and uncle Mehul Choksi.

Prosecutors allege that Nehal Modi played a pivotal role in money laundering and conspiracy efforts, using a sophisticated network of shell companies. He is charged with obstructing justice by destroying evidence and facilitating the illicit activities of Nirav Modi, whose operations engaged in fraudulent banking practices against PNB.

(With inputs from agencies.)