UK court rejects Nirav Modi’s new bail application

In another setback to Nirav Modi, a UK court yet again rejected a bail plea of the fugitive diamond merchant on Wednesday despite an offer of an “unprecedented bail package”, which included 4-million pounds in security as well as house arrest akin to those imposed on terrorist suspects.

Nirav Modi has been in custody at Wandsworth Prison in south-west London, one of England’s most overcrowded prisons, since his arrest in March. He reportedly claimed anxiety and depression in his latest application, with earlier bail applications at the court being rejected by Chief Magistrate Emma Arbuthnot, and then also on appeal at the High Court in London, as he was deemed a flight risk.

The 48-year-old diamond merchant, who is fighting extradition to India on charges of nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case, was produced before Chief Magistrate Emma Arbuthnot at Westminster Magistrates’ Court here for his fourth attempt at bail.

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