Indian diamond mogul Nirav Modi, accused of orchestrating the $2 billion Punjab National Bank scam, may have used his New York City apartment to launder money.
Modi, a fugitive on the run from Indian authorities and Interpol, is accused of defrauding the state-run bank by using phony guarantees to raise foreign credit.
Shortly before fraud charges were brought in India, Modi transferred an apartment he owns at the Essex House on Central Park South from an LLC that filed for bankruptcy in January this year to another he controlled with his wife, Indian news website the Wire reported.
Read the original article here: therealdeal.com
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