Mumbai, October 8: Diamantaire Nirav Modi, who is wanted in the multi-crore Punjab National Bank (PNB) fraud in India, allegedly sold fake diamond rings to a Canadian national for which he had to pay a heavy price. According to an Indian Express report, the man had to pay $ 200,000 for the fake ring, as a result of which he not only lost his girlfriend, but was also pushed to severe depression.

Canadian official Paul Alfonso had no clue that Nirav Modi was the mastermind behind such a huge banking scam in India, and he bought two rings from the diamond merchant in Hong Kong to propose to his girlfriend. But this joy was cut short after it came to light that the diamonds were fake. PNB Fraud: ED Attaches Assets Of Nirav Modi Worth Over Rs 1,000 Crore Including Jewelry Worth Rs 22 Crore.

Alfonso had met Modi in 2012, and was very impressed with his attitude, which led to the two dining together as well. After several years, Alfonso wrote to Modi this April telling him about his requirement for a “special” engagement ring at a budget of $ 100,000 to propose to his girlfriend. According to the report, Modi was quoted saying, "Thank you for thinking of me when you’re making one of the most meaningful purchases in any man’s life."

The couple wanted the ring to be insured, but Modi kept on delaying sending the insurance certificates to them. Alfonso's fiancee took the ring to the insurer and they found that the stones were fake. This came as a rude shock to him. Soon after this incident, his fiancee broke up with him and he slipped into depression. He has now filed an unlimited civil lawsuit against Modi with the Superior Court of California, suing him for $ 4.2 million. This includes $ 200,000 for the value of the rings, $ 1 million for punitive damages and another $ 3 million for emotional distress, pain and suffering. The hearing is scheduled for January next year.

Nirav Modi, along with his uncle Mehul Choksi of the Gitanjali Group, is under the scanner in the PNB fraud case and an inquiry is being carried out by both the Central Bureau of Investigation (CBI) and the ED. Modi left India along with his family in the first week of January, weeks before the scam was reported to the CBI.

(The above story first appeared on LatestLY on Oct 08, 2018 11:04 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).