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The Enforcement Directorate (ED) on Wednesday has attached assets worth Rs 218 crore of Mehul Choksi, Nirav Modi, Mihir Bhansali and others in connection with the Punjab National Bank scam of over $2 billion.
The ED statement was quoted by the ET as saying, “Bhansali is a close confidant of Nirav Modi and beneficiary of the scam. He was actively involved in the diversion of funds received from PNB’s LoU’s (letters of undertaking).”
Enforcement Directorate attaches various assets & valuables (Cut and Polished Diamonds) worth Rs 218.46 Crore belonging to Mehul Choksi, Nirav Modi, Mihir Bhansali and others in connection with PNB scam.— ANI (@ANI) October 17, 2018
Choksi and Modi have been wanted by multiple investigating agencies for recovering the loan amount and to punish them under money laundering scam.
The ED has attached Choksi’s villa valued at Rs 27 crore in an undisclosed country, 2.1 lakh square feet building on a 2.5 acre land in the name of AP Gems and Jewellery Park in Hyderabad’s posh Banjara Hills area.
Previously, the ED had attached assets worth Rs 637 crore of absconding Modi in India and four other countries.