A security guard stands guard inside a Nirav Modi showroom during a raid by Enforcement Directorate, a government agency that fights financial crime, in New Delhi, India, February 15, 2018. REUTERS/Adnan Abidi
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Indian investigators Thursday raided the premises of a billionaire jeweler accused of defrauding one of the country's biggest banks.Enforcement Directorate officers searched the Mumbai offices of Nirav Modi after he was accused of cheating state-owned Punjab National Bank (PNB) of 2.8 billion rupees ($43.8 million).Modi is one of India's richest men.It followed PNB's complaint last month to India's Central Bureau of Investigation that it had been defrauded of 2.8 billion rupees.The news agency, citing officials, reported on Thursday that Modi had left India on Jan. 1, before the bank detected either of the two fraud cases.
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