Firestar Diamond Trustee Sues Other Cos. Tied To Modi Fraud

Law360 (February 13, 2020, 7:28 PM EST) -- The liquidating trustee for three American diamond companies tied to Nirav Modi's $2 billion Indian bank fraud sued a handful of other U.S. companies involved in the scheme on Thursday, seeking to claw back tens of millions of dollars.

In Thursday's 40-page complaint, Chapter 11 trustee Richard Levin of Jenner & Block said defendants Synergies Corp., Nirav Modi Inc. and AVD Trading Inc. were part of the complex web of sham transactions and "shadow entities" Modi used to carry out the largest bank fraud in Indian history.

Levin wants to claw back millions transferred to those companies by the three he's...

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