Diamantaire Nirav Modi Now A Fugitive Economic Offender

Government can confiscate all his properties

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A special Prevention of Money Laundering Act court here on Thursday declared diamond trader Nirav Modi, an accused in the Punjab National Bank scam case, a fugitive economic offender.

Nirav Modi is the second person to be declared a fugitive economic offender, under the new Fugitive Economic Offenders Act, after liquor baron Vijay Mallya. Now, the Union government can confiscate his assets.