Another bank fraud revealed! This one involves Gitanjali Gems and Rs 86.5 crore
Choksi and his nephew Nirav Modi are already facing investigation in the Rs 13,540-crore fraud they committed on the state-run Punjab National Bank's Mumbai branch, which came to light after they left the country in early January.
Karnataka Bank clarified it does not have any LoU exposure in Gitanjali Gems. Image source: Reuters