US court rejects plea filed by Nirav Modi seeking dismissal of fraud allegations against him
Fugitive diamond trader Nirav Modi has received a setback from the US court. The court rejected his and two other associates' plea seeking quashing of fraud charges leveled against them by a trustee of three companies. Nirav Modi, lodged in a UK jail, is challenging India's efforts to extradite him to face charges of fraud and money laundering in the Punjab National Bank (PNB) scam case. Richard Levine, a court-appointed trustee of three American companies Firestar Diamond, Fantasy Inc and A Jeff, made these allegations in a New York court. He also sought a minimum compensation of $15 million for the damages caused to the lenders from Modi and his associates Mihir Bhansali and Ajay Gandhi.