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NEW DELHI: The Enforcement Directorate conducted searches at several properties linked to billionaire jewellery designer Nirav Modi in Mumbai, Delhi and Gujarat on Thursday and seized diamond, jewellery and gold worth Rs 5,100 crore, officials said.
The ED has also written to external affairs ministry to revoke the passports of Nirav Modi and his partner Mehul Choksi, according to officials.
In a stern warning to those involved in the Rs 11,400-crore fraud at PNB, the government today said that nobody, regardless of stature or status, shall be spared.
Visuals of items seized by Enforcement Directorate. Gold, diamonds & precious stones worth Rs 5100 crore has been s… https://t.co/uN21LQi0JU
— ANI (@ANI)
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PNB fraud: Govt says guilty won’t be spared, slams Cong’s ‘photo politics’
“I wish to make it very clear on the behalf of the government that no one who has sought to derail ordinary banking system shall be spared, regardless of their stature and status,” Union minister Ravi Shankar Prasad said.
Scam-hit PNB said Nirav Modi came up with “some vague offers” to repay the amount, even as the ED continued raids at properties connected with the jeweller designer.
The country’s second largest PSU bank has detected a scam where the billionaire jeweller (Nirav Modi) allegedly acquired fraudulent letters of undertaking (LoU) from a branch in Mumbai to secure overseas credit from other Indian lenders.
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PNB fraud: Nirav Modi left India with family in first week of January
Nirav Modi had left the country on January 1 much before the CBI received a complaint from Punjab National Bank on January 29 about a Rs 280 crore fraud, officials said.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, the officials said.