India’s federal law enforcement and economic intelligence agency, Enforcement Directorate (ED) said that it has attached properties worth Rs 2.18 billion (£22.78 million) in India and abroad belonging to fugitive celebrity jeweller Nirav Modi and his close relative Mehul Choksi.
Both diamond merchants have moved out of India, and are accused of defrauding state-owned country’s Punjab National Bank (PNB) of Rs 135bn.
According to an official from ED, a villa of worth Rs 270m owned by Choksi in a foreign location has been attached.
A property at India’s southern city, Hyderabad worth Rs 1.2bn owned by AP Gems and Jewellery Park has also been attached. Diamonds whose market value is estimated at Rs 187.60m, belonging to Firestar Group related to Modi, were also attached.
ED has also attached a flat worth Rs 17m in Mumbai’s Trump tower belonging to Choksi’s daughter.
A flat at a foreign country worth Rs 510m related to Mihir Bhansali, a close assistant of Modi has also been attached. The ED clarified that letters Rogatory have been sent to the authorities’ foreign jurisdictions to enforce the provisional attachment orders.
The federal investigation agency has attached assets worth Rs 44.88bn in the PNB fraud case.
Both Modi and his uncle Choksi of Gitanjali Group are being investigated by both federal investigation agencies, Central Bureau of Investigation (CBI) and the ED. Non-bailable warrants have been issued against the duo in connection with the fraud case.
The Interpol has already issued a Red Corner Notice (RCN) against Nirav Modi, Belgian citizens, his brother Neeshal and sister Purvi. RCN has also been issued against Bhansali and Aditya Nanvati, the associates of Nirav Modi.
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