New York, 20/12(AOBureau): Nehal Modi, brother of fugitive diamond trader Nirav Modi, is now facing serious charges of fraud in New York. Nehal Modi has been accused of cheating one of the world’s largest diamond companies for $ 2.6 million (more than Rs 19 crore) through a multi-layered scheme.
In fact, Nehal Modi has been accused in the Supreme Court of ‘major theft in the first degree’ for taking diamonds worth more than $ 2.6 million from a diamond wholesale company in Manhattan. Now Nehal Modi will face trial in the Supreme Court of New York.
Under New York laws, first-degree felony theft means stealing more than $ 1 million. The fraud begins in 2015, when Nehal Modi, along with a company, took diamonds worth $ 2.6 million from LLD Diamonds USA to make a fake presentation.
According to Prosecution, in March 2015, Nehal Modi asked for diamonds worth about $ 800,000 and claimed that he would show them for sale to a company called Costco Wholesale Corporation. Costco is a chain that sells diamonds at low prices to customers who join as members.