Fraud Case Against Tycoon Short On Proof, Atty Claims

Law360, London (May 12, 2020, 4:09 PM BST) -- The Indian government's extradition case against a diamond tycoon is "very short on proof," his lawyer told a court on Tuesday, saying there "is simply no evidence" that India's most wanted man swindled $2 billion from a bank in a global Ponzi scheme.

Prosecutors allege that Nirav Modi stole "eye-watering amounts" of money from Punjab National Bank between 2011 and 2018 in the country's biggest ever bank fraud. But his lawyer, Clare Montgomery QC, claimed the case is not backed up by underlying evidence that proves his dishonesty.

Modi is accused of conspiring with insiders at Punjab National Bank to set him up...

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