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This article is more than 3 year old.

Nirav Modi planned to secure citizenship of Vanuatu before PNB scam broke, says report

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Nirav Modi was planning to secure a citizenship of Vanuatu, an island nation in the South Pacific Ocean before the Punjab National Bank scam.

Nirav Modi planned to secure citizenship of Vanuatu before PNB scam broke, says report
Diamond jeweller Nirav Modi was planning to secure a citizenship of Vanuatu, an island nation in the South Pacific Ocean three months before the Rs 13,600 Punjab National Bank (PNB) scam became public, reported The Indian Express quoting sources.
In November 2017, Modi had transferred $195,000 from his personal account to one of the 18 authorised agents of the Vanuatu government for the citizenship, the report said.
Modi's request for the citizenship of Vanuatu got rejected after the Vanuatu government found " adverse findings' against him, the report added.
Under Vanuatu's honorary citizenship programme, foreigners can become citizens through investment and the fee for one person is $160,000 with an additional fee of $5,000 for Financial Intelligence Unit (FIU) due diligence, the daily said.
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