Nirav Modi: His diamonds wooed women globally, making him a billionaire
His rise, from 2009, was as glittering as the jewellery he sold.
The year was 2010. The occasion, auction house Christie's much anticipated event in Hong Kong. The item on sale - a 12.29 carat Golconda diamond centered in an ornately designed necklace, resplendent with pink and colourless diamonds. The hammer went down at a mind-boggling Rs 16 crore. And that was the moment when an up and coming luxury brand from India finally arrived on the global scene.
Arrived and how! Since then, brand NIRAV MODI, with its self-named founder Nirav Modi, continued to grow from strength to strength and established itself as one of the biggest luxury brands in this hemisphere.
That was until two days ago, when this luxury brand's glittering stones suddenly became tainted. A fraud of Rs 11,000 crore ($1.8 billion) was unearthed in Punjab National Bank, with fraudulent transactions traced to Nirav Modi's company.
His rise, from 2009, was as glittering as the jewellery he sold.
The year was 2010. The occasion, auction house Christie's much anticipated event in Hong Kong. The item on sale - a 12.29 carat Golconda diamond centered in an ornately designed necklace, resplendent with pink and colourless diamonds. The hammer went down at a mind-boggling Rs 16 crore. And that was the moment when an up and coming luxury brand from India finally arrived on the global scene.
Arrived and how! Since then, brand NIRAV MODI, with its self-named founder Nirav Modi, continued to grow from strength to strength and established itself as one of the biggest luxury brands in this hemisphere.
That was until two days ago, when this luxury brand's glittering stones suddenly became tainted. A fraud of Rs 11,000 crore ($1.8 billion) was unearthed in Punjab National Bank, with fraudulent transactions traced to Nirav Modi's company.
