Choksi, along with Modi, is being investigated by the ED for allegedly defrauding PNB, the country’s second largest lender.
The Enforcement Directorate (ED) has seized more than 34,000 pieces of jewellery worth Rs 85 crore belonging to a company owned by jeweller Mehul Choksi. Choksi, diamantaire Nirav Modi’s uncle, is facing a money laundering probe in the Rs 13,000-crore Punjab National Bank (PNB) fraud case.
The agency said the jewellery was “brought from Dubai” and has been seized under the Prevention of Money Laundering Act (PMLA). “ED seizes over 34,000 pieces of jewellery worth Rs 85 crore under PMLA of Mehul Choksi controlled Gitanjali Group brought from Dubai,” it said in a statement.
Choksi, along with Modi, is being investigated by the ED for allegedly defrauding PNB, the country’s second largest lender. Modi, Choksi and others are being investigated by the ED and other probe agencies following a complaint by the PNB, which alleged a fraud to the tune of over Rs 13,000 crore with the purported involvement of a few employees of the bank.
The CBI and ED have registered two FIRs each. The CBI filed two chargesheets in the case this week before a Mumbai court while the ED is expected to file its prosecution complaint soon. The ED complaint or chargesheet will focus on the money laundering aspect and the role played by Choksi and Modi in the alleged fraud. Both Modi and Choksi are said to have left the country before criminal cases were lodged against them.