PNB scam: How Nirav Modi, one of India's richest men executed a $2 bn fraud

With several questions still unanswered, here's what we know about the PNB fraud case

On Valentine’s Day, one of India’s biggest banks disclosed an almost $2 billion fraud allegedly by one of the country’s richest men, who deals in pearls and diamonds.

Shares of the lender, Punjab National Bank, plunged on the news, dragging down other lenders when it said the scam may extend to multiple banks.

With several questions still unanswered, here’s what we know about the case:

Who are the key people named in PNB’s complaint?

In its complaint to the federal investigation agency -- the Central Bureau of Investigation -- PNB alleged that the fraud was led by Nirav Modi, a