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Nirav Modi again jailed for the third time, court rejects London court

A British court rejected the bail plea of fugitive diamond trader Nirav Modi for the third time on Wednesday for the third consecutive time.

London: A British court rejected the bail plea of ​​fugitive diamond trader Nirav Modi for the third consecutive term Wednesday. Modi is accused of bank fraud and money laundering in India with the Punjab National Bank (PNB Scam) up to $ 2 billion. The 48-year-old Modi, wearing a light blue shirt and pants, appeared before the chief magistrate of the Westminster Magistrate Court Emma Arbuthnot.
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Neerav Modi's lawyers offered to double the amount of bail, i.e. to 2 million pounds. At the same time he said he was ready to stay in a 24-hour detention in his London-based flat. During the long hearing, Barrister Claire Montgomery told the judge that the conditions in Wandsworth Jail are not worth living. Modi is ready to accept any condition that will be imposed on him.

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However, the judge did not agree with these arguments. Judge Arbuthnott said that the amount of fraud is very high and in such a situation the security deposit of 20 million pounds is inadequate. If he is granted bail he will fail to surrender, therefore the court refused to grant bail to Modi. Earlier, contending with India, the Crown Prosecution Service said that Modi should not be given bail because the evidence presented by the defendants does not reflect any kind of change in the circumstances.

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