Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Needmore seats to Win
Needmore seats to Win
2-min read

Nirav Modi Sold Fake Diamond Rings Worth Rs 1.4 cr to Canadian, Leading to His Breakup With Girlfriend

Absconding jeweller Nirav Modi allegedly sold two fake diamond rings to a Canadian man Paul Alfonso for US$200,000 in Hong Kong.


Updated:October 8, 2018, 10:54 AM IST
Nirav Modi Sold Fake Diamond Rings Worth Rs 1.4 cr to Canadian, Leading to His Breakup With Girlfriend
File photo of diamantaire Nirav Modi.
New Delhi: A bogus business deal made by absconding Jeweller Nirav Modi to a Canadian national cost the latter US$200,000 (Rs 1.4 crore), his girlfriend and pushed him into depression.

Nirav, who is wanted in a multi-crore fraud at India’s Punjab National Bank, allegedly sold two fake diamond rings to a Canadian man Paul Alfonso for US$200,000 in Hong Kong.

The buyer, who reportedly had no clue about fraud charges on Nirav, bought the rings to propose to his girlfriend. But their celebration was cut short after the duo found out that the diamonds were fake, according to a report in the South China Morning Post.

Alfonso and Nirav first met in 2012 and again ran into each other in Malibu after a few months.  Alfonso said he found his association with Nirav “good” as he gave him a “pep talk” and was “kind of an older brother figure.”

In April this year, Alfonso sent an email to the diamond jeweller asking for a “special” engagement ring at the budget of US$100,000 to propose marriage to his girlfriend.

In response, Nirav offered a “perfect” 3.2-carat round brilliant diamond cut, D colour, VVS1 – a high-quality grade and colourless stone at US $120,000. “Thank you for thinking of me when you’re making one of the most meaningful purchases in any man’s life,” Nirav wrote after Alfonso approved the design.

Alfonso’s girlfriend, however, expressed interest in another design, prompting him to order a second ring – a 2.5 carat oval diamond for US$80,000 from Nirav. After Alfonso made payment for both rings to a Hong Kong account, he received the rings in June.

But in August, when Alfonso’s fiancée took the rings to an appraiser, the couple found that the diamonds were fake. “When she told me, I was like ‘That’s impossible. I spent US$200,000 on those rings. There’s no way they are fake. It’s Nirav we are talking about’,” Alfonso said.

Another rude shock followed when he found out about charges against Nirav and his bankrupt companies and loan defaults.

The incident led to breakup between the couple. “We broke up literally after one or two days … It was just too much for both of us to handle. It does not make sense to her, because she says: ‘You are a pretty smart guy, how did you let someone scam you out of US$200,000 without making sure the transaction was legitimate?’” said Alfonso, who slipped into depression soon after.

He has now filed an unlimited civil lawsuit against Nirav in California, suing him for US$4.2 million dollars.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
Read full article
Next Story
Next Story

Also Watch


Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results