August 30 2018
The price of the large yellow diamond alternately shrank and spiked by about a million dollars as it moved across the globe.
The three-carat gem was shipped at least four times between shell companies allegedly controlled by Indian billionaire and PNB fraud-accused Nirav Modi over about five weeks in 2011, according to a report by a US bankruptcy examiner. The practice of round-tripping—trading a good repeatedly to give the appearance of distinct transactions—was central to the largest bank fraud in Indian history and ensuing criminal charges against Nirav Modi, according to the report filed 25 August.