Jeweler Nirav Modi reportedly hiding in New York, embarrassed government talks tough

World famous jeweler and the man at the center of a multi-crore scam Nirav Modi, is apparently hiding safely in his apartment in Manhattan, New York. Modi is accused of cheating the Punjab National Bank of more than Rs 11, 300 crore before escaping to the United States.

Modi and his partners are accused of taking loans from various international banks with the support of a senior official at the PNB's Mumbai branch. The official helped him out by issuing fraud guarantees. Reports are that Modi managed to get away for many years as he had connections with prominent ministers, businessmen and people in Prime Minister Narendra Modi's office. He had been under probe since 2016 for various frauds, but no action was takenagainst him.

The Central Bureau of Investigation started following up on the PNB scam in the middle of January, by which time Modi had escaped to the U.S. with his family. The government has promised tough action, no matter how rich or powerful they are.

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