PNB fraud case: 4 Swiss bank accounts of Nirav Modi, sister frozen on ED request
The alleged scam was unearthed last year and Purvi Modi was also named as an accused in the ED chargesheet filed before a Mumbai court.
Noose around beleaguered diamantaire Nirav Modi tightens more as four Swiss bank accounts of the main accused in the $2 billion PNB fraud case, and his sister have been "frozen" by authorities in Switzerland. The action is part of the criminal money laundering probe being conducted against the culprits in India, said a PTI report today, citing official sources. Other details related to the latest development are:
1. The officials reportedly said the accounts, at present, have deposits totalling Rs 283.16 crore and the same has been frozen on the request of the Enforcement Directorate (ED) after it informed Switzerland authorities that the money kept in them are "proceeds of crime" of a bank fraud perpetrated by the duo.
2. According to the officials, the ED made the request to the Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
3. Official sources told PTI that the accounts of Nirav Modi, who is currently under arrest in this case in London, have deposits of $3,74,11,596 while accounts in the name of his sister Purvi Modi has deposits of GBP27,38,136, totalling around Rs 283.16 crore.
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4. The ED is expected to now make a move for the attachment of these bank accounts under the PMLA. The alleged scam was unearthed last year and Purvi Modi was also named as an accused in the ED chargesheet filed before a Mumbai court.
5. The ED along with the CBI are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to defraud the Brady House branch of the PNB in Mumbai to the tune of over Rs 13,000 crore.