Vanuatu has revoked Lalit Modi’s passport due to concerns over his intentions to escape extradition amid ongoing financial investigations. Previously, Nirav Modi’s citizenship application was denied following irregularities linked to significant fraud. The country has implemented enhanced scrutiny measures for citizenship applicants to combat misuse and safeguard its reputation.
Vanuatu has annulled the passport previously issued to Lalit Modi, the former chairman of the Indian Premier League, amidst allegations of financial misconduct in India. Prime Minister Jotham Napat confirmed that while standard background checks did not reveal any criminal convictions at the time of application, recent revelations indicated that Interpol had declined Indian requests to issue an alert notice against Mr. Modi due to insufficient judicial evidence. Consequently, it was determined that Mr. Modi sought Vanuatu’s citizenship with intentions to evade extradition, which is against the country’s regulations.
Before Lalit Modi’s case, Vanuatu had rejected an application for citizenship from diamond jeweller Nirav Modi under its Citizenship by Investment program. Vanuatu’s CBI program requires applicants to make a significant, non-refundable financial contribution, specifically $155,000 for single applicants. Nirav Modi tried to secure citizenship shortly before his involvement in a 13,600 crore rupee banking fraud was made public. Reports indicated that he transferred $195,000 to an authorized Vanuatu agent for his citizenship application, but adverse findings from Vanuatu’s Financial Intelligence Unit halted proceedings.
The scrutiny of citizenship applications in Vanuatu has been reinforced significantly over the past four years, resulting in a higher rate of rejections. Prime Minister Napat stated the government has implemented enhanced due diligence processes, including triple-agency checks and Interpol verification, to mitigate risks associated with potential misuse of citizenship entitlements. Due to security concerns related to the citizenship scheme, the European Union had previously rescinded a visa-free travel agreement with Vanuatu.
Concerns have arisen worldwide regarding pay-for-citizenship schemes facilitating money laundering and aiding criminals in avoiding accountability. The Financial Action Task Force has emphasized that such programs enable individuals to obscure their identity and engage in illicit activities across borders. In relation to Lalit Modi, he is under investigation for various financial violations, including issues surrounding a substantial television rights deal for the IPL. He has been evading Indian authorities since his departure to the UK in 2010 following an interrogation by tax authorities.
In summary, Vanuatu has taken strong measures to tighten scrutiny regarding its Citizenship by Investment program, particularly focusing on individuals with questionable backgrounds. The government’s actions against Lalit and Nirav Modi illustrate a commitment to preventing its citizenship options from being exploited for illicit purposes. Strengthening due diligence in this area is crucial in maintaining the integrity of the country’s citizenship offerings amidst global concerns about financial crimes and extradition evasion.
Original Source: indianexpress.com
