Nirav Modi closes Ala Moana Center store amid fraud allegations against billionaire founder


Nirav Modi, a luxury jewelry store in Ala Moana Center is closed, following the company's Chapter 11 bankruptcy filling in New York and reports that its billionaire owner has been charged with bank fraud in India.

The jewelry company is owned by Indian jeweler Nirav Modi and has locations in London, New York, Hong-Kong, Beijing, Macau, Mumbai and New Delhi.

In January, India’s state-owned Punjab National Bank accused Modi of orchestrating fraudulent transactions worth almost $2 billion, and…

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