Vanuatu revoked Lalit Modi’s citizenship due to allegations of financial misconduct and tightened scrutiny of its Citizenship by Investment program. Prime Minister Jotham Napat stated applicants should not use citizenship to evade legal processes. Previously, Nirav Modi’s application was also denied due to concerns about his involvement in a major banking fraud.
Vanuatu has revoked the citizenship granted to Lalit Modi, former chairman of the Indian Premier League, amid allegations of financial misconduct. Prime Minister Jotham Napat confirmed that the initial background checks showed no criminal record, but Interpol denied requests from Indian authorities for an alert about Modi due to insufficient judicial evidence. Napat emphasized that Vanuatu passports should not be obtained to evade legal obligations, which he believes was Modi’s motive.
Previously, Vanuatu also denied citizenship to diamond jeweler Nirav Modi due to the high-profile Punjab National Bank fraud. Vanuatu’s Citizenship by Investment (CBI) program solicits non-refundable donations, with the single applicant fee set at approximately $1.55 million, making it one of the more economically accessible routes to citizenship. Nirav Modi attempted to acquire citizenship just before the scandal became public but was ultimately rejected due to adverse findings from a financial intelligence probe.
The Vanuatu government has recently reinforced its citizenship scrutiny processes, implementing more stringent due diligence measures over the last four years. These measures include thorough checks by multiple agencies to mitigate risks associated with its investment citizenship scheme. Concerns about how citizenship schemes facilitate money laundering have prompted international scrutiny, leading to a revocation by the European Union of Vanuatu’s visa-free travel status.
Lalit Modi faces allegations related to foreign exchange violations and controversies surrounding a £425-crore TV rights deal for the IPL. After attending only one interrogation in India, he fled to the UK in 2010, where he has consistently maintained his innocence amidst the ongoing investigations that have resulted in his lifetime ban from the Board of Control for Cricket in India (BCCI).
In summary, Vanuatu’s recent actions against both Lalit Modi and Nirav Modi highlight its intensified scrutiny of citizenship applications linked to financial misconduct. This change reflects global trends aiming to combat money laundering and enhance legal compliance. The implications of these measures not only impact individuals like Modi but also reflect broader governmental efforts to maintain the integrity of citizenship programs.
Original Source: indianexpress.com
