Mumbai-based art auctioneer Saffronart is to sell £4m ($5.2m) of artwork belonging to fugitive billionaire Nirav Modi on behalf of the Indian government's Tax Recovery Officer. Modi absconded from India this month after the 47-year-old was accused of committing fraud against the state-run Punjab National Bank of around $2bn. Modi, who has since been spotted in New York, Hong Kong and London has, through lawyers, expressed his innocence.
Mumbai-based art auctioneer Saffronart is to sell £4m ($5.2m) of artwork belonging to fugitive billionaire Nirav Modi on behalf of the Indian government's Tax Recovery Officer. Modi absconded from India last year after the 47-year-old was accused of committing fraud against the state-run Punjab National Bank of around $2bn. Modi, who has since been spotted in New York, Hong Kong and London has, through lawyers, expressed his innocence.