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    A jeweler to the stars is accused in a $1.8 billion bank fraud in India

    by Shashank Bengali, Los Angeles Times Feb 16, 2018 4 minutes

    MUMBAI, India - In the depths of the global recession in 2008, a little known Indian gem dealer made a bold bet by buying up top-quality diamonds and using them to fashion a brand of ultra-luxe jewelry that would soon adorn the necks and wrists of Hollywood stars.

    Nirav Modi's brazenness didn't stop there, according to Indian investigators, who this week alleged that the billionaire celebrity jeweler was at the center of one of the biggest money laundering cases in the country's history.

    Federal officials in India said they were investigating Modi in connection with $1.8 billion in fraudulent transactions from the country's second-largest state-run bank. The revelation shocked business and entertainment

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