A London court on Wednesday rejected Indian billionaire Nirav Modi’s appeal against his extradition from the UK to India to face fraud and money laundering charges.
British police arrested the diamond merchant in 2019 in London for his alleged involvement in a $2 billion bank fraud.
Modi’s lawyers last year challenged a court order allowing the British government to extradite the fugitive businessman, citing his mental health and suicide risk.
London’s High Court rejected the appeal on Wednesday, saying Modi’s suicide risk did not rule out his extradition.
Justice Jeremy Stewart-Smith, one of the two judges, said they were “not at all satisfied that Mr Modi’s state of mind and risk of suicide are such that it would be either unjust or oppressive to issue it”, according to his ruling court. .
“Based on the assurances given by the (Indian government), we accept that there will be appropriate medical provision and an appropriate plan for the management and medical care of Mr. Modi, which will be provided knowing that he is a suicidal risk,” the officials said. judges.
Modi’s alleged fraud first came to light in 2018 when Punjab National Bank, one of India’s largest banks, reported fraudulent activity at one of its branches.
India then issued an Interpol red notice for Modi’s arrest and authorities in London were called in to execute it. India’s foreign ministry said in a statement at the time that it welcomed the arrest and would seek Modi’s extradition as soon as possible.
Modi and the bank officials allegedly issued fraudulent Letters of Undertaking to overseas banks to obtain the buyer’s credit, according to India’s Central Bureau of Investigation (CBI).
Forbes once ranked Modi as India’s 85th richest man, with a net worth of $1.8 billion.
CNN reached out to his lawyer after the court’s decision Wednesday, but has not yet heard back.
Modi, who remains in Wandsworth Prison in London, can challenge Wednesday’s court decision in the UK High Court.
