UK police arrest wealthy Indian jeweler Nirav Modi

LONDON — Fugitive diamond tycoon Nirav Modi, who is wanted over his alleged involvement in a $2 billion banking fraud, has been arrested in London at the request of Indian authorities.

The 48-year-old Modi was detained Tuesday in central London and held overnight in custody, the Metropolitan Police Service said.

He is due to appear at London’s Westminster Magistrates’ Court for a bail hearing later Wednesday.

A jeweler to Bollywood stars and one of India’s richest men, Modi is wanted in India over allegations he was involved in a fraud on the state-run Punjab National Bank, one of the largest-ever fraud cases in India.

Last year the international police organization Interpol issued a “red notice” for his arrest. This month, Britain’s Daily Telegraph said it had tracked him down to a luxury apartment in London’s Centre Point tower.

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The Associated Press