ED has been probing the 53-year-old in the alleged USD 2 billion fraud against the Punjab National Bank for over five years now and has attached assets worth ₹ 2,596 crore in India and abroad in the past.
The Enforcement Directorate on Wednesday issued a statement saying that it has attached fresh assets worth ₹ 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law.
According to an NDTV report, the probe agency said that a provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets in the form of bank deposits, land, and buildings.
ED has been probing the 53-year-old in the alleged USD 2 billion fraud against the Punjab National Bank for over five years now and has attached assets worth ₹ 2,596 crore in India and abroad in the past.
Modi is presently lodged in a UK jail and has lost his extradition plea to India concerning this alleged bank loan fraud case, which CBI is also investigating.
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Modi and his uncle, Mehul Choksi, are the prime accused in the case and are being probed by the ED on money laundering charges for allegedly perpetrating fraud in connivance with bank officials and by issuance of fraudulent Letters of Undertaking (LoUs) at the Brady House Punjab National Bank (PNB) branch in Mumbai, reported NDTV.
A PMLA court in Mumbai declared Modi a fugitive economic offender in December 2019, the same year he was arrested in London.
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