Swiss Authorities froze 4 bank accounts of the billion dollar PNB. fraud accused Diamond business owner Nirav Modi and his sister as part of criminal proceedings being conducted against them in India, official sources told the media.
The accounts had a total deposit of Rs 283.16 crore. They have been frozen on the Enforcement Directorate’s (ED) request which informed authorities that the amount kept in them are proceeds of a crime.
The Swiss authorities said that ED had sent an official request under the Provisions of the Prevention of Money Laundering Act (PMLA).
Official sources said the deposits of GBP 27,38, 136 were in the name of his sister Purvi Modi while Nirav Modi who is currently under arrest in London, UK had a total deposit of $ 3,74,11, 596 in his account.
The Criminal Bureau of Investigation (CBI) and ED are investigating the case of Nirav Modi and his uncle Mehul Chowksi involved in Rs 13400 crore Punjab National Bank Fraud Case.
The scam was brought to surface last year, Purvi Modi too was found an accused in the case. ED included her name while filing a charge sheet before a Mumbai court.
Chowksi could be extradited to India: Antigua PM
Meanwhile, After diplomatic pressures from India, Antigua Prime Minister Gaston Browne has agreed to revoke the citizenship of Diamond merchant Mekul Chowksi.
Browne told the media that the country is not going to provide any safe haven for anyone involved in financial crimes. He could be extradited to India if he exhausts all legal options
Chowksi had escaped India on January 4 last year. He is currently based in Antigua and Barbuda. He alone is accused of duping Rs 70080.86 Crore.
Chowksi, 60, had taken the twin island nationality in November 2017 using Citizenship of Investment Program (CIP).
Note: Under CIP, a person can total take its passport on a minimum investment of US $ 100,000 in the NDF investment fund in the country.
Chowksi and Nirav are the main accused of defrauding the government-owned Punjab National Bank’s Brady Mumbai branch. Both fled the country last year before the scam unearthed, Modi was found in London and court proceedings are taking place.
ED has also asked for Nirav Modi’s extradition from UK to India.
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