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India: Gems Worth $177 Million Seized from Nirav Modi and Mehul Choksi

Authorities seized 108 packages, weighing over 2,300 kg, of diamonds and jewellery
Nirav Modi Jewelry India
Credit: tanpanamanoob /

A huge amount of diamonds, pearls and other pieces of jewellery, estimated at $177 million, were seized by Indian officials investigating fugitive billionaire Nirav Modi and his uncle Mehul Choksi, IDEX Online reports.


Fancy Blue Diamond Ring
Credit: Sotheby’s


Indian jeweller Nirav Modi is wanted in his country in connection with a $2 billion bank fraud that he allegedly perpetrated with his uncle Mehul Choksi against the Punjab National Bank (PNB); in March 2019, Modi was arrested in London. Last week, a London court approved the confiscation of assets, acting upon the Fugitive Economic Offenders Act that came into force two years ago.


India Gems Diamonds
Credit: David Talukdar /


All in all, authorities seized 108 packages, weighing over 2,300 kg. The packages were allegedly dispatched to Dubai by firms owned by Modi and Choksi. A number of properties, including a farmhouse and a windmill, have also been seized.


According to the report, Modi’s extradition hearing in London resumes in July.

Tags: Diamonds News, Jewelry News, Diamond Jewelry News, India News

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