The Nirav Modi financial scam is making headlines everywhere.
Celebrity jewellery designer, Nirav Modi, has landed himself in trouble after Punjab National Bank accused him of $1.8 billion fraud. The bank in a regulatory filing to the stock said that it had detected “fraudulent and unauthorised” transactions amounting to Rs. 11,360 crore at a branch in Mumbai.
Enforcement Directorate (ED) was quick to crack a whip and raided properties of Nirav Modi around the country on Thursday. A case has been registered against the diamond major under Prevention of Money Laundering Act (PMLA).
Now, a news is coming in wherein Priyanka Chopra, who was appointed as the global ambassador by luxury diamond jeweller Nirav Modi, has dragged the diamantaire to court for non-payment of dues. “Priyanka Chopra has already cut off ties with Nirav Modi. She and her team had blamed him for non-payments for their endorsement deals,” said a statement from PeeCee’s spokesperson.
"My association with Nirav Modi is like a meeting of minds in many ways. We are both fiercely proud of our heritage and are united by the idea of bringing a modern India to the global forefront. His jewels are one of a kind and effortless, with an understated elegance," the actress had said in a statement, back in January 2017, at the time of the appointment as an ambassador.
The Nirav Modi brand’s ad campaigns have been much talked about, especially this one with Priyanka Chopra and Sidharth Malhotra. Watch this video:
Actor Siddharth Malhotra who was also a brand ambassador is exploring legal options to get out of his endorsement deal with Nirav Modi. Actress Lisa Haydon was also seen as the face of the brand before Priyanka.
Within a span of a decade and emerging out of nowhere Nirav Modi created a brand that became eponymous with Bollywood and Hollywood glitterati. Modi, who ventured late into the business, gained a reputation as India’s top jeweller to the Bollywood A-listers and even to Hollywood biggies including Kate Winslet and Dakota Johnson who walked the red carpet in diamonds from his eponymous brand.