Absconding jeweller Nirav Modi is wanted in a multi-crore financial fraud in India. However, it did not deter the tainted diamantaire to dupe a Canadian national of Rs 1.4 crore (US$200,000) in a business deal where he sold two fake diamond rings. As a result, Paul Alfonso, the chief executive of a payment processing company, not only lost his money but also his fiancee leading him into depression.
Deception is the characteristic trait of Nirav Modi, and the entire country is now aware of it. However, Alfonso was totally unaware of financial fraud cases filed against Nirav Modi and fell prey to Nirav’s tricks. According to Alfonso, he had met Nirav previously, and in April he asked him to deliver a special diamond ring, 3.2-carat round brilliant diamond cut, D colour, VVS1 for his engagement. The ring cost him the US $120,000.
Later, his girlfriend expressed a desire to have another diamond ring. Subsequently, Alfonso approached Nirav again and placed an order for another 2.5-carat oval diamond ring. The second ring cost him US$80,000.
It was later discovered that the rings sold by Nirav were fake. His fiancee left him soon after, pushing Alfonso into depression.
According to media reports, Alfonso has sued Nirav for US$ 4.2 million that contains US$ 200,000 for the value of rings, US$ 1 million for punitive damages and another US$ 3 million dollars for emotional pain, suffering and distress. He has filed an unlimited civil lawsuit against Modi with the Superior Court of California. The Superior Court of California will hear the case in January 2019.
The recent developments come at a time when the opposition parties in India are mounting pressure on the Centre to punish Nirav for his fraud in the country.