The enforcement directorate continued with its hard pressing action against PNB bank scam main accused Nirav Modi by seizing mutual funds, shares, and cars of the diamond merchant and his companies.
These cars include one Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, one Porsche Panamera, 3 Honda cars, one Toyota Fortuner and one Toyota Innova, reports ANI. The body froze Nirav Modi's mutual funds and shares worth Rs 7.80 Crore and Rs 86.72 crore of those belonging to Mehul Choksi Group.
According to Times Now, after ED seized the cars, they also seized precious paintings owned by Nirav Modi which include works of Francis Souza, Amrita Sher-Gil, VS Gaitonde, Akbar Padamsee, Bharti Kher and M. F. Husain.
Modi, Choksi and others are being investigated by multiple probe agencies after it recently came to light, following a complaint by the PNB, that they allegedly cheated the nationalized bank to the tune of Rs 11,400 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 Modi and Choski are said to have left the country before criminal cases were lodged against them.
ED seized 9 cars belonging to #NiravMod and his companies. These cars include one Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, one Porsche Panamera, 3 Honda cars, one Toyota Fortuner and one Toyota Innova. pic.twitter.com/Kfx0rkPrIW
— ANI (@ANI) February 22, 2018
PNB adopts strict SWIFT controls after mega fraud
#CBI had sealed Nirav Modi’s Alibaug farmhouse. The bungalow, called Roapanya, is spread over 1.5 acres and has the market value of Rs 32 crore. It was reportedly bought in 2004 in his name.
#Punjab National Bank has stepped up its controls on the use of global payments network SWIFT following an alleged $1.77 billion fraud, according to memos issued this month and seen by Reuters.
#The new measures mean only PNB officers will be able to initiate messages on SWIFT, taking away the authority of clerks to do so. Several new limits have been placed on the amount that officers can generate depending on their seniority in the bank hierarchy.