Diamond tycoon Nirav Modi has lost his bid to avoid extradition to India from Britain to face allegations of involvement in a $1.8 billion bank fraud.
District Judge Samuel Goozee ruled in London on Thursday that the jeweller has a case to answer before the Indian courts.
Mr Modi, whose jewels once adorned stars from Bollywood to Hollywood, has been held in London's Wandsworth Prison as he battled extradition to India.
"I do not accept that Nirav Modi was involved in legitimate business. I find no genuine transactions and believe there is a process of dishonesty," the judge said.
"Many of these are a matter for trial in India. I am satisfied again that there is evidence he could be convicted. Prima facie there is a case of money laundering."
The 49-year-old appeared via video link from prison at Westminster Magistrates Court.
"The case has now been sent to the Secretary of State for a decision on whether or not to extradite him to India," Westminster Magistrates Court told The National.
He has 14 days to appeal the judge's decision.
Judge Goozee dismissed Mr Modi’s argument that he would not be treated fairly in India.
Mr Modi has refused to submit to extradition to India and denies the fraud allegations. He had sought political asylum in the UK.
Indian authorities have sought Mr Modi’s arrest since February 2018, when they alleged companies he controlled defrauded the state-owned Punjab National Bank by using fake financial documents to get loans to buy and import jewels.
The extradition matter now goes to the UK's Home Secretary Priti Patel for a final decision.
The valuables, worth 13.5 billion rupees ($177 million), had been kept in a warehouse in Hong Kong after being moved there from Dubai in 2018, India’s Enforcement Directorate, which investigates financial crimes, said.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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RESULTS
6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
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6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
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7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
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Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor
20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill
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Winner: Lord Glitters, Daniel Tudhope, David O'Meara
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Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
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Courtesy: Crystal Intelligence
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Shahad Al Rawi, Oneworld
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Engine: 3.6-litre V6
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5 |
Norway |
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6. |
Canada |
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Singapore |
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8. |
Australia |
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9. |
Saudi Arabia |
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10. |
South Korea |
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Your rights as an employee
The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.
The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.
If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.
Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.
The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
