PNB Fraud: Nirav Modi's Assets Worth Rs 255 Crore Attached by ED From Hong Kong
The total attachment in the PNB scam case till date is worth Rs 4,744 crore, according to media reports.
Hong Kong, October 25: The ED attached valuables worth Rs 255 crores in Hong Kong under PMLA (Prevention of Money Laundering Act, 2002) belonging to fugitive businessman Nirav Modi, who is wanted in the 13,000 crore Punjab National Bank (PNB) scam case. The total attachment in the PNB scam case till date is worth Rs 4,744 crore, according to media reports. PNB Fraud: ED Attaches Assets Of Nirav Modi Worth Over Rs 1,000 Crore Including Jewelry Worth Rs 22 Crore.
Earlier, The Enforcement Directorate (ED) had attached assets worth Rs 637 crores belonging to fugitive diamantaire Nirav Modi in connection with the Punjab National Bank (PNB) fraud case. After working for three months in close coordination with overseas agencies, the Enforcement Directorate had identified and attached jewellery, bank accounts, immovable properties of the fugitive diamantaire under Section 5 of the Prevention of Money Laundering Act (PMLA), 2002.
As per Enforcement Directorate, diamond studded jewellery worth Rs 22.69 crores was brought back from Hong Kong in 23 shipments. Investigation in the matter revealed that the stock was shipped from India after the Central Bureau of Investigation (CBI) filed an FIR in the matter and was kept in the vault of a private company. Two immovable properties worth Rs 216 crores owned by Nirav in New York's Central Park have also been attached.
(The above story first appeared on LatestLY on Oct 25, 2018 10:11 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).