India, July 5 -- Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, has been arrested in the USA following a request by the CBI and the ED, media reports said.

He was arrested in connection with the multi-crore Punjab National Bank (PNB) scam.

Nehal Modi is a Belgian national.

He has been arrested five years after he was charged with fraud for allegedly acquiring diamonds worth over $2.6 million from LD Diamonds USA.

He did not honour the payment terms. Modi allegedly pawned and sold the diamonds for his own financial benefit.

Nehal Modi is also named in the chargesheet in the Punjab National Bank (PNB) scam.

He allegedly helped his brother and fugitive Nirav Modi secure fake credit letters in a multi-billion-dollar...