Indian jeweler Nirav Modi arrested in London: British police

Fugitive billionaire jeweler Nirav Modi is accused of defrauding state-run Punjab National Bank about $2 billion in spurious loans. Above, a protester with a cutout of Modi in New Delhi. (AFP)
Updated 20 March 2019
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Indian jeweler Nirav Modi arrested in London: British police

  • India had asked Britain in August to extradite billionaire jeweler Nirav Modi

LONDON: Diamond tycoon Nirav Modi, whose jewels once adorned stars from Bollywood to Hollywood, was arrested in London Tuesday, more than a year after Indian authorities alleged he was involved in a $1.8 billion bank fraud.
Modi, 48, was detained in central London and remained in custody overnight, the Metropolitan Police Service said. He is due to appear at London's Westminster Magistrates' Court for a bail hearing later Wednesday.
Indian authorities have sought 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.
Police in India later raided the homes and offices of Modi and business partner Mehul Choksi, seizing nearly $800 million in jewels and gold. The men are thought to have left India before the alleged fraud was discovered.
Modi denies the allegations and has sought political asylum in the U.K.
In a letter to Punjab National Bank last year, Modi said he owed the institution about 50 billion rupees ($775 million). The $1.8 billion figure cited by the bank resulted in a media frenzy that pressured authorities to quickly search and seize assets from two of his companies, Firestar International and Firestar Diamond International, Modi said.
The son of a diamond merchant, Modi built an international jewelry empire that stretched from India to New York and Hong Kong. Bollywood star Priyanka Chopra became the face of his eponymous brand and Hollywood actress Naomi Watts appeared with Modi at the opening of his first U.S. boutique in 2015.
As recently as 2017, Forbes magazine estimated Modi's wealth at $1.8 billion. But his empire began to crumble after the fraud allegations, and he was removed from the publication's billionaires list in 2018.
Last year, the international police organization Interpol issued a "red notice" seeking Modi's arrest worldwide. His arrest finally came after Britain's Daily Telegraph earlier this month said it had tracked him down to a luxury apartment in London's Centre Point tower, a 34-story building that promotes itself as a "landmark with unparalleled views."


'No collusion, no obstruction' Trump declares victory as Mueller report published

Updated 59 min 13 sec ago
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'No collusion, no obstruction' Trump declares victory as Mueller report published

  • Justice Department released the full — though redacted — report from Special Counsel Robert Mueller on Russian medaling in US election
  • Attorney General Bill Barr said in a summary of the report that there was no collusion between Trump and Russians

WASHINGTON: President Donald Trump, backed by his attorney general, declared himself fully vindicated Thursday in the investigation into Russian election meddling and alleged collusion with his campaign — before the long-awaited full probe report was made public.
“Game Over,” Trump tweeted, using a “Game of Thrones” style montage that pictured him standing in dramatic fog.


Just about an hour later, the Justice Department released the full — though redacted — report from Special Counsel Robert Mueller, which nevertheless raised questions about Trump’s actions, saying investigators were “unable” to clear him of obstruction.
Weeks ago, Attorney General Bill Barr said in a summary of the report that there was no collusion between Trump and Russians seeking to influence the 2016 presidential election in his favor.
In a nationally broadcast news conference held right before the report’s release, Barr repeatedly drove that point home.
“We now know that the Russian operatives who perpetrated these schemes did not have the cooperation of President Trump or the Trump campaign,” Barr told reporters, in a statement that effectively sought to spin the report before it was released.
“The special counsel found no collusion by any Americans,” Barr said.
“That is the bottom line.”
The extreme secrecy surrounding Mueller’s nearly two-year investigation ended abruptly at about 11a.m. in Washington when the 400-odd pages of the report were made public to Congress, the media and the public.
The report’s publication marks a new peak in a political storm raging over Washington throughout the first half of Trump’s first term in office.
While leftist opponents long hoped that Mueller would either charge Trump with crimes or provide evidence for impeachment, the outcome so far has favored the divisive, right-wing Republican president.
“NO COLLUSION. NO OBSTRUCTION,” a triumphant Trump wrote in his “Game of Thrones” pastiche tweet.
Later, he said at the start of a speech: “I’m having a good day.”
Barr emphatically sought to clear Trump of allegations that his actions — including his public attacks on Mueller and firing of then FBI chief James Comey — were not legally actionable.
The Trump-appointed attorney general had already asserted this in his summary of Mueller’s report a month ago, despite noting that Mueller himself had been unable to rule clearly on the issue.
At his news conference, Barr said he was standing by his own ruling, noting that Trump had no intention to obstruct and had merely been “frustrated and angered.”
“The White House fully cooperated with the special counsel’s investigation, providing unfettered access to campaign and White House documents, directing senior aides to testify freely, and asserting no privilege claims,” he said.
“And at the same time, the president took no act that in fact deprived the special counsel of the documents and witnesses necessary to complete his investigation.”
But the report said: “If we had confidence after a thorough investigation of the facts that the president clearly did not commit obstruction of justice, we would so state.
“Based on the facts and the applicable legal standards, however, we are unable to reach that judgment.”
Publication of the report — minus parts blacked out for legal or security reasons — will in theory give everyone a chance to get the full picture on a scandal that has been tangled in conspiracy theories.
But given the volcanic political temperature in Washington and the left-right chasm through the rest of the country ahead of Trump’s 2020 re-election bid, the debate over what really happened is likely to rage on.
At a minimum, the details — based on exhaustive interviews by Mueller’s prosecutors with Trump insiders — could paint an unflattering picture of the president and his links to Russia, including a previously undeclared real estate project in Moscow.
The deeper analysis of whether he committed obstruction of justice could also provide headaches for the White House.
Trump himself is supremely confident that his opponents have failed in what he claims was high-level “treason” to destroy his presidency.
“The Greatest Political Hoax of all time! Crimes were committed by Crooked, Dirty Cops and DNC/The Democrats,” the president said before Barr took the podium, reprising many of his favorite slogans about his opponents.
Claiming that Barr has been working to hamper and whitewash the Russia report, Democrats will push for still more details and testimony in the near future — including from Mueller himself.
“It is clear Congress and the American people must hear from Special Counsel Robert Mueller in person to better understand his findings,” House Judiciary Committee Chairman Jerry Nadler tweeted.
Nadler set a deadline of May 23 for Mueller to come to Capitol Hill.