London, March 9: Fugitive diamantaire Nirav Modi, who is wanted in Rs 13000 crore Punjab National Bank fraud case, has been tracked down to the United Kingdom. The 48-year-old billionaire is living in an £8 million apartment situated in London’s West End and now involved in a new diamond business, reported UK-based newspaper The Telegraph. The daily has also shared a video in which the latter can be seen freely roaming in the streets of London. PNB Fraud Case: Nirav Modi's Sprawling Seaside Bungalow Demolished Using Explosives (Watch Video).

A video released by The Telegraph shows Modi, apparently wearing a jacket made by "Ostrich hide" which costs around Rs 9 lakh, repeatedly avoiding journalist's question and answering "no comments" to every question. The report further stated that the absconding businessman is living in a “three-bedroom flat occupying half of a floor of the landmark Centre Point tower block, with views across London.” The monthly rent for the property is estimated to be £17,000 a month (over 15 Lakh).

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In the video, Modi refuses to answer Mick Brown's question and says "sorry, no comment," with a smile. Modi has also changed his clean shave looks with a handle-bar moustache and beard because of which he is not easily recognisable.

Nirav Modi and his maternal uncle Mehul Choksi has been accused of cheating the Punjab National Bank through fraudulent issuance of Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) worth Rs 13,000. The duo left the country in January 2018, weeks before the scam was unearthed. While Nirav Modi is living in the United Kingdom, Choksi has become a citizen of Antigua and Barbuda.

(The above story first appeared on LatestLY on Mar 09, 2019 09:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).