Nirav Modi Arrested in London

RAPAPORT... Fugitive jeweler Nirav Modi was arrested in central LondonTuesday on behalf of Indian authorities, the city's police said. Modi will appear at Westminster Magistrates' Court Wednesday, the Metropolitan Police said in a statement. The diamond mogul, together with his uncle, jewelerMehul Choksi, allegedly defrauded India's Punjab National Bank of $2 billion - thelargest banking fraud in the country's history.  Indian authorities have been seeking Modi's extradition afterhe fled the country last year. In July, an Interpol red notice was issued forhis arrest, and the following month India asked the UK for his return to facecharges. Antigua and Barbuda, where Choksi is current residing, has yet toagree to his extradition. Earlier this month, UK newspaper The Telegraphtracked Modi down to a GBP 8 million ($10.4 million) apartment in London's WestEnd. He was also running a diamond business linked to his homeaddress, the report said. Following the report, UK Home Secretary Sajid Javid agreedto extradite Modi to India. Image: Nirav Modi. (Nirav Modi/Facebook)