Another setback came for fugitive diamantaire Nirav Modi in the alleged USD 2 billion fraud in Punjab National Bank (PNB) as the Enforcement Directorate (ED) on Thursday attached his jewellery and valuables worth Rs 255 crore in Hong Kong. According to a statement released by the agency, the value of the attached assets is about Rs 255 crore USD 34.97 million. The ED noted that the valuables were transported via 26 shipments by Dubai based companies of Nirav Modi to the Hong Kong-based companies controlled by him after the alleged PNB scam surfaced.
The agency said that the assets including, diamonds, jewellery and others valuables were stored in a logistics company vault in Hong Kong. During the investigation, the details like value, consignee, shipper and ownership were also acquired by the agency. The details have also been attached to the value of goods, the agency said. The ED asserted that have issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of these assets.
The agency also said that soon a court-issued order will be sent to Hong Kong to formalise the PMLA attachment order. The total value that has been attached to the case with the latest order is Rs 4,744 crore.
A few days back, the ED has attached properties and bank accounts of Nirav Modi and his family members worth Rs 637 crore. The ED has attached assets belonging to Nirav Modi and family in India and four other countries in relation to the fraud that took place at the government-owned bank.
Besides this, the Interpol had recently issued a Red Corner Notice (RCN) against Nirav Modi and one more accused, Aditya Nanavati.