Billionaire jeweller Nirav Modi was arrested on behalf of Indian authorities on Tuesday afternoon in London.
Arrest warrant issued last week, after Home Secretary Sajid Javid referred India’s extradition request for Mr. Modi — wanted in connection with the ₹13,000 crore Punjab National Bank fraud case.
Nirav Modi was arrested by officers from the Met Police’s extradition unit and would remain in custody until the hearing at which the granting of bail would be determined.
Nirav Modi was tracked down and filmed by the Daily Telegraph earlier this month near a luxury apartment complex by Oxford Street, where he has been living. He declined to answer questions about his status in the U.K. and reports that he had applied for asylum.