New Delhi: The Enforcement Directorate (ED) has attached valuables worth Rs 255 crore in Hong Kong belonging absconding jeweller Nirav Modi under under the Prevention of Money Laundering Act (PMLA) as part of its fresh action in the USD 2 billion alleged bank fraud in the Punjab National Bank (PNB).
Total attachment in this PNB scam case till date is worth Rs 4,744 crore.
Nirav Modi has been absconding since the alleged bank fraud, by far the highest in the country in terms of value, came to light early this year and an Interpol arrest warrant was recently notified against him even as India is working to get him extradited from the United Kingdom, where he was last reported to have been based.
ED has also filed a charge sheet against him alleging that he laundered and diverted over Rs 6,400 crore of bank funds abroad to dummy companies that were under his and his families’ control
Nirav Modi, his uncle Mehul Choksi and others are being probed under various criminal laws after the fraud came to light this year following a complaint by the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of a few employees of the bank.