According to sources Nirav Modi, the billionaire jeweler at the heart of a more than $2 billion fraud case, has fled to the UK, where he is claiming political asylum, the media reported citing Indian and British officials. Britain's Home Office said it does not provide information on individual cases. As per report Nirav Modi could not be contacted by Reuters for comment on the report.

Earlier on May 1, it was reported that Nirav Modi was attempting to hire a lawyer who could help him get political asylum in the UK. Meanwhile the billionaire designer had approached at least two firms in the United Kingdom. As per report Punjab National Bank said earlier in 2018 that two jewelry groups headed by Nirav Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.

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Furthermore the Ministry of external affairs told the FT the Indian government was waiting for the law enforcement agencies to approach them before pushing for an extradition, which had thus far not happened. Moreover the ministry did not respond to a Reuters request for comment outside regular working hours.

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