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London, Jan 09: Wanted diamond merchant Nirav Modi is responsible for overseeing a “ponzi-like scheme” that caused enormous fraud to India’s Punjab National Bank (PNB), the UK court hearing final submissions in the extradition case was told on Friday.
The Crown Prosecution Service (CPS), arguing on behalf of the Indian authorities, focussed on laying out the prima facie case of fraud, money laundering and perverting the course of justice against the 49-year-old jeweller, who followed the proceedings on the second day of a two-day hearing via videolink from a room at Wandsworth Prison in south-west London.
District judge Samuel Goozee was taken through evidence already presented before…
