The gems confiscated from Nirav Modi, a former Indian diamantaire accused of fraud and money laundering, will be put up for sale by the government of India to recover a portion of the $1.5 billion he owes.
The collection consists of 40,000 carats of diamonds, emeralds, and other precious stones, including a Golconda diamond that is over 10 carats.
According to the Ministry of Finance, the auction will be conducted in two stages, with the first stage featuring high-value stones, while the second stage will include smaller ones.
The sale is expected to generate approximately $8 million to $12 million, which will be used to pay off some of Modi's debt.
For more Updates Do follow us on Social Media
Facebook Page https://bit.ly/3blw5Rg
Instagram https://bit.ly/3MsRHbP
YouTube https://bit.ly/3EBFhvf
Twitter https://bit.ly/3E9IO5U
Linkedin https://bit.ly/3M17Xlk
WhatsApp Group https://bit.ly/3J27nUFJEWELBUZZ
Коментари