United States federal agents arrested Nehal Deepak Modi on 4 July after receiving a joint extradition request from India’s Central Bureau of Investigation and Enforcement Directorate. Modi, 46, is the younger brother of fugitive diamond merchant Nirav Modi and is wanted in India for his alleged role in the ₹13,000-crore Punjab National Bank fraud, one of the country’s largest banking scams. According to Indian charge-sheets, Nehal Modi helped launder illicit proceeds, moved funds through a web of shell companies across the UAE, Hong Kong and other jurisdictions, and oversaw the destruction of electronic records once the scandal surfaced in 2018. Investigators say he and an associate removed about 50 kg of gold and large sums of cash from Dubai and threatened dummy directors to conceal evidence. US prosecutors have based the extradition proceedings on two counts—money laundering under the Prevention of Money Laundering Act and criminal conspiracy, including destruction of evidence, under India’s Penal Code. An Interpol Red Notice against Modi has been active since 2019. Modi is scheduled to appear before a federal court on 17 July for a status conference at which he may seek bail; the US Justice Department has indicated it will oppose his release. His elder brother Nirav Modi remains in a London jail fighting a separate extradition request from India.