Newspaper Tracks Down Nirav Modi

RAPAPORT... Fugitive Indian diamantaire Nirav Modi is living an upscale life in London and running a diamond business there, according to a reportby UK newspaper The Telegraph. The publication tracked down Modi to an GBP 8 million ($10.4million) apartment in London's West End. The jeweler, suspectedof defrauding Punjab National Bank of $2 billion, is involved in a newdiamond firm run out of an office in the city's Soho neighborhood, the report claimed. The name of the company, which the publication does not disclose, appears on Companies House, a registrar of businesses in the UK, but it does not list Modi as a director. The business is linked to Modi'shome address, The Telegraph added. The directory lists the company as a wholesale trader and retailer of watches and jewelry, according to the report. Modi replied "nocomment" to a string of questions from a reporter, captured in a video The Telegraph released. The Indian businessman was wearing a jacket worth at least GBP 10,000 ($13,015), according to the paper. The report cited a highly placed UK government official who confirmedModi had received a National Insurance identification number from the Department for Work& Pensions, and had been allowed to operate online bank accounts in the UK.He has also been in contact with a wealth-management company that specializesin advice to rich foreigners, the report noted. The UK Home Office declined to comment on the case to TheTelegraph. However, UK Home Secretary Sayid Javid has agreed to extradite Modi to India to face charges, The Telegraph said in a subsequent report. Image: A still shot from the interview with Nirav Modi in London. (The Telegraph)