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Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, has claimed that he has no funds and is resorting to borrowing money to pay the court-ordered legal costs amounting to more than 150,000 pounds.
The 52-year-old former billionaire last year lost his legal battle in the highest UK court against being extradited to India in the estimated $2 billion Punjab National Bank (PNB) loan scam case. But his case is now said to be “statute barred”, indicating further pending litigation.
