India wants the UK to help it catch a fugitive billionaire

Thomson Reuters

• India has asked Britain to extradite billionaire jeweller Nirav Modi.
• He is one of the main accused in the $2 billion loan fraud at state-run Punjab National Bank.
• Modi's exact whereabouts are unknown and India didn't say whether it knew Modi was in the UK.

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NEW DELHI (Reuters) - India has asked Britain to extradite billionaire jeweller Nirav Modi, one of the main accused in the $2 billion loan fraud at state-run Punjab National Bank (PNB).

Modi's whereabouts have been unknown since PNB said in January that two jewellery groups headed by Modi and his uncle, Mehul Choksi, defrauded the bank for years by raising foreign credit using fake guarantees.

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