PNB scam: ED seeks 'fugitive economic offender' tag for Modis
The Enforcement Directorate (ED) is pushing to officially label Neeshal and Nehal Modi—brothers of already infamous diamond trader Nirav Modi—as "fugitive economic offenders" in the ₹23,780 crore Punjab National Bank scam.
Both are accused of moving huge sums through fake companies and making the money trail tough to follow; Neeshal is also accused of bribing bank officials.
Neeshal allegedly set up dummy partners in Dubai firms, while Nehal handled international transfers.
Neeshal still at large; Nehal's extradition pending
If the court agrees with the ED, it could mean their properties in India get seized.
Right now, Nehal is fighting extradition after being arrested in the US last July; his brother Neeshal is still missing.
Meanwhile, Nirav Modi, who was declared a fugitive economic offender, is in UK custody.
The case also ropes in other names like Aditya Nanavati and Sandeep Mistry as accused.