ED to label Modi and Choksi fugitive economic offenders
The Enforcement Directorate (ED) is moving to label Ami Nirav Modi and Priti Choksi as fugitive economic offenders over the massive ₹13,000 crore Punjab National Bank scam.
If approved, this would let the ED seize their assets worldwide, even without waiting for a trial.
Since Ami is believed to be in the US and Priti in Belgium, separate applications are being filed.
Nirav Modi jailed, Mehul Choksi wanted
Nirav Modi and Mehul Choksi, the main names behind the scam, are already facing extradition cases, with Modi jailed in the UK and Choksi wanted for similar frauds.
Ami has been flagged by Interpol, while Priti was the ultimate beneficial owner of three UAE companies allegedly used by Mehul Choksi to route and park funds obtained through the fraud.
The ED is also looking at using these laws against other family members involved.