Definition: Given a document, generate a short title of the document. The title should convey the main idea/event/topic about which the document is being written. Note that URLs in the text have been replaced with [Link].
Input: PNB has lost 90 billion Indian rupees ($1.41 billion)  23.4 percent  of its market value since its disclosure on Wednesday that a investigation was underway into suspected fraud  as a result of two junior officials at a branch in Mumbai steering unauthorized loans to customer accounts  including some firms e linked to Nirav Modi  a billionaire jeweler and diamond merchant.
Federal investigators have raided  Nirav Modiâs Mumbai  home and offices  though the jeweler is outside the country and his whereabouts is unknown.
 Modi  launched an eponymous jewelry business branded NIRAV MODI  in capitals  with a chain of boutiques stretching from New York to London to Beijing.
As recently as last month   he  was at the World Economic Forum in Davos. Indian media carried a group photograph with Prime Minister Narendra Modi in the foreground and Nirav Modi  who is no relation  grinning between rows of Indian business leaders behind  him .
Companies related to Nirav Modi had used the fraudulent credit guarantees from PNB to get loans from overseas branches of Indian banks  including Allahabad and Axis  according to a previous police complaint from PNB.

Fraud