Indian billionaire jeweller seeks asylum in Britain

MUMBAI: Indian billionaire jeweller Nirav Modi, wanted over an alleged massive bank fraud, has fled to Britain where he is seeking asylum, according to a report Monday.

Modi, whose celebrity clients have included actress Naomi Watts and Kate Winslet, is accused of involvement in a $1.8 billion scam against Punjab National Bank (PNB), India´s second-largest state-run lender. The 47-year-old has been on the run since the scandal broke in February, rocking India´s corporate world.

The Financial Times newspaper cited officials in India and Britain as saying that Modi had sought asylum in Britain for what he called “political persecution”. Indian officials were not immediately available to comment.

A spokesman for Britain´s Home Office said: “We do not comment on individual cases.”It comes as India´s government seeks the extradition of liquor tycoon Vijay Mallya over unpaid loans to his beleaguered Kingfisher Airlines after he absconded to Britain in 2016.

Indian investigators are probing allegations that Modi and his uncle and business partner Mehul Choksi, also a diamond merchant, defrauded PNB of 2.8 billion rupees ($43.8 million). This figure is said to be just a part of the total losses.