Swiss authorities freeze bank accounts of Nirav Modi, Purvi Modi: Swiss authorities froze four bank accounts of fugitive businessman Nirav Modi and his sister Purvi Modi on Thursday, reports said. Currently, Nirav Modi is lodged at Her Majesty’s Prison Wandsworth in England for his alleged involvement in the Rs 13,700-crore Punjab National Bank (PNB) fraud case. While two accounts belong to Nirav Modi (Rs 283 crore), the other two belong to his sister Purvi. The accounts are reportedly having $6.4 million funds in total. Investigators said Purvi Modi was the point person who handled most of the black money belonging to Nirav.
In September 2018, the Interpol had issued a Red Corner Notice against Purvi Modi following a request from the Enforcement Directorate (ED) on the charges of money laundering. Purvi, who was born in Mumbai, holds Belgian citizenship. Earlier, the Interpol had sent a Red Corner Notice against Nirav’s brother Neeshal Modi also. A special court in Mumbai has summoned Nirav Modi’s brother Neeshal and Purvi to appear before it on September 25, 2018.
On June 12, the Royal Courts of Justice in London on Wednesday denied bail to Nirav Modi in the case, reports said. This was Nirav Modi’s fourth bail application at the UK court which was refused. Similarly, in May, UK’s Westminster Magistrate’s Court had denied bail to Nirav.
Reports said authorities at Mumbai’s Arthur Road jail have kept barrack no.12 ready if Modi is extradited from the UK in connection with the USD 2 billion PNB fraud and money laundering case, reports said.
Nirav Modi’s hearing against a lower court’s order that denied him bail on grounds of substantial risk following his extradition orders from Britain to India was concluded on Tuesday in the UK High Court and the final verdict for the same will be given on Wednesday.
He has been booked in the PNB fraud and money laundering case in India. The UK High Court bench comprising Justice Ingrid Simler observed that the matter holds prominence and that the court would take time till Wednesday to give a final word.
While in Modi’s defence his lawyers made repeated assertions from previous three bail pleas before Westminster Magistrate’s Court to claim that the 48-year old diamond merchant did not post any substantial flight risk as claimed by the Indian government. He has been denied bails at three previous attempts on grounds of possible risk.
Modi has remained behind bars in judicial custody since his arrest in March and had the right to file a plea in the higher court without any permission. Modi’s legal team described his experience at Wandsworth prison in south-west London as damaging.
During the first hearing last month, the issue of bail was not raised and Modi was further remanded in judicial custody until June 27.
While during the May 30 hearing Judge Arbuthnot had directed the Indian government to confirm which prison Nirav Modi was to be held in if he were to be extradited to India settling a 14-day deadline for a confirmation of the prison plans in India.