India seizes $860 mn of Nirav Modi, UK court denies him bail third time

Nirav Modi's lawyer told judge in London that her client should be granted bail, because most of his funds are frozen.

A London judge rejected fugitive diamond merchant Nirav Modi’s third attempt to get bail, after his lawyer said that Indian authorities have seized or liquidated the equivalent of $860 million of his funds and he doesn’t have access to enough resources to flee.

Judge Emma Arbuthnot ruled that even though Modi was willing to double his proposed security to 2 million pounds ($2.6 million), the risk of interfering with witnesses and destroying evidence remained too high. He had also only moved to the U.K. in 2017, so lacked the kind of community ties that would make him more likely to stay