Fugitive diamond merchant Nirav Modi’s bail plea was rejected for the third time remain by Chief Magistrate at Westminster Magistrates Court on Wednesday. after a London court heard that he lured his employees from Abu Dhabi to Egypt to see the pyramids and offered them money to set up businesses there to prevent them from giving statements against him.
Centered around the “large fraud” at the heart of the allegations against Nirav Modi (including the allegation that “$60 million had been squirrelled away personally” by Mr. Modi), his lack of community ties in the U.K., the risk that he would attempt to interfere with witnesses and damage evidence, and the risk that he would attempt to use the substantial means available to him to evade justice. The next hearing is set to take place on May 30. The refusal came despite the offer of £2 million in security, and the defence’s contention that Mr. Modi would not seek to flee the U.K.
The Crown Prosecution Service, acting on behalf of India, was represented by Nick Hearn of Furnival Chambers, while Mr. Modi was represented by Ms. Montgomery, who represented Vijay Mallya in his extradition hearings. “Conditions in Wandsworth (prison) are unliveable… Modi is willing to abide by any conditions you choose to impose,” his barrister Clare Montgomery told the Judge during the lengthy hearing.
Judge Arbuthnot denied bail to Modi as she feared that he would fail to surrender.