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Nirav Modi, PNB & the biggest bank loot that shook India


Nirav Modi, PNB & the biggest bank loot that shook India

Last month, Punjab National Bank, known as PNB, filed an initial criminal complaint with the country’s Central Bureau of Investigation (CBI) accusing celebrity jeweller Nirav Modi and others of defrauding the bank and causing it a loss of 2.8 billion Indian rupees (more than $43 million). The allegations against a man whose diamond creations have draped Hollywood stars such as Kate Winslet and Dakota Johnson generated a flurry of coverage across India’s TV screens and newspapers.

Modi has not publicly commented on the case. But as more details surfaced about what is alleged to have happened at the state-run bank, which was founded in 1894, the stakes have gotten higher.

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