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India arrests 11 suspects in $1.8 billion bank fraud case
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NEW DELHI (AP) — India's federal investigating agency on Tuesday arrested another five executives as it swooped down on companies run by two main suspects in an alleged $1.8 billion bank fraud case that continued for six years.Central Bureau of Investigation spokesman Abhished Dayal said the five worked for the companies owned by Nirav Modi, a billionaire jeweller, and his uncle Mehul Chinubhai Choksi. Their whereabouts are not known. Five bank executives and another employee of Modi's company Firestar group were arrested over the past three days for allegedly conspiring to cheat the state-owned Punjab National Bank, bringing the total number to 11, the spokesman said.