Nirav Modi is spotted in a luxury apartment in London by a reporter of The Telegraph in UK. He owes almost 2 billion dollars to Indian State owned banks and is hiding from Indian authorities. He lives in the Center Point tower block and has started a new business of diamond watches and jewelry linked to his apartment. He wears extremely costly clothes and lives a life of luxury and flamboyance.
He has the money. Where is it? Punjab National Bank (PNB) is trying to locate it. Its own employees colluded with Nirav Modi-controlled Firestar Group of Companies to siphon out $2 Billion out of the country. Seven of these emplyees are behind bars. Corruption of this proportion most likely involves much deeper fish in PNB.
Indian agencies such as CBI and ED who are trying to get to the bottom of this PNB scandal suspect some employees of the PNB have bank accounts and assets in London and other international destinations. They also believe these PNB bigger fishes are keeping in touch with Modi and still helping him evade extradition from UK to make sure real culprits within PNB are not caught. If he is extradited, he will spill the bean for many deep hidden bosses with PNB.