PNB Fraud Case: ED Attaches Mehul Choksi’s Assets Worth Rs 24.77 Crore in India, Abroad
New Delhi: In a big blow to fugitive diamantaire Mehul Choksi, the Enforcement Directorate (ED) on Thursday attached his immovable properties, valuables, vehicles and bank accounts with a total value of Rs 24.77 crore under Prevention of Money Laundering Act, 2002(PMLA) in Punjab National Bank fraud case.
In a press release, the ED said that it has attached three commercial properties in Dubai, valuables, a Mercedes Benz E280 and Fixed Deposits controlled by Choksi, who is now said to be based in Antigua.
Besides, the central agency also attached four Swiss bank accounts of Nirav Modi and his sister Purvi with a balance of Rs 283 crore in its investigation into the Rs 13,500 crore fraud.
The ED action comes months after it filed a supplementary chargesheet against Nirav Modi’s wife Ami Modi, a US national, for being the beneficiary of alleged purchase of two apartments at Central Park in New York using $30 million of laundered money which her husband obtained fraudulently from PNB through Letters of Undertaking and Foreign Letters of Credit.
About PNB scam
The fraud came to light early last year after a complaint by the PNB that they allegedly cheated it to the tune of over Rs 13,000 crore, with the purported involvement of a few employees of the bank. The CBI and the ED have registered two FIRs each to probe the case.
Both Choksi and and his nephew Modi left the country before criminal cases were lodged against them.
Choksi is at present based in the Caribbean nation of Antigua. India has sought his extradition from that country and an Interpol arrest warrant has also been issued against him.