PNB Fraud: ED attaches Rs. 218.46cr-worth assets of Choksi, others
What's the story
The Enforcement Directorate (ED) on Wednesday seized assets worth over Rs. 218 crore in the nearly Rs. 13,000 crore loan fraud case probe, officials said. The officials stated that the three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the central investigative agency's zonal office in Mumbai for attachment of the properties in India and abroad. Here's more.
The Accused
Beneficiaries of the assets are Nirav Modi and other accused
The beneficiaries of these assets put under attachment are absconding diamond jeweler Mehul Choksi, Mihir Bhansali, a close aide, and a US-based executive of main accused in the case Nirav Modi, and also a company named AP Gems and Jewellery Park, said the officials. The total value of the attached and seized assets is Rs. 218.46 crore, they said.
The PNB case
Choksi last reported to be in Antigua and Barbuda
The ED is probing this case along with the CBI where it is alleged that Nirav Modi and Choksi defrauded the Brady House branch of the Punjab National Bank (PNB) in Mumbai. While Choksi has been last reported to be in the Caribbean nation of Antigua and Barbuda, the Interpol (global police) has recently issued a red corner notice against Bhansali in this case.