On 15th February 2018, the Enforcement Directorate raided jeweller Nirav Modi's properties and seized assets worth Rs 1,300 crore. There are charges of money laundering and bank fraud against him, his wife Ami, partner Mehul Choksi and brother Nishal. It’s being called India’s biggest corporate fraud. Opposition leaders are calling for accountability from the government; pointing out that Nirav Modi was photographed along with PM Narendra Modi in Davos just weeks ago. What is the 1.8 billion dollar or Rs 11.400 crore fraud all about? Should the government be embarrassed?
Part of a family of diamond merchants, Nirav Modi grew up in Antwerp, Belgium and dropped out of Wharton. He wanted to create a jewellery brand like Cartier and created waves in 2010 when his stunning Golconda Lotus Necklace was sold at a Christie's auction for $3.6 million.
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