Fugitive diamantaire Nirav Modi's four Swiss bank accounts have been frozen by the authorities in Switzerland on request of India, confirmed Enforcement Department on Thursday. Nirav Modi is key accused in Rs 13,400 crore PNB fraud case and is facing extradition trial in the United Kingdom at the moment.
Accounts of Nirav Modi's sister Purvi Modi have also been seized. The authorities have frozen a total of $ 6 million present in Nirav Modi's Swiss bank accounts. Nirav Modi's Swiss Bank accounts had deposits totalling Rs 283.16 crore and they have been frozen on the request of the Enforcement Directorate (ED) after it informed Switzerland authorities that the money kept in them were "proceeds of crime" of a bank fraud perpetrated by the duo.
The ED, they said, made the request to the Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
Four Swiss bank accounts of fugitive Nirav Modi and his sister Purvi Modi have been seized. Swiss authorities have seized these accounts on request of Enforcement Directorate (file pic) pic.twitter.com/mxz5TVDtJ0— ANI (@ANI) June 27, 2019
Official sources said while the accounts of Nirav Modi, the diamantaire under arrest in this case in London, have deposits of USD 3,74,11,596 while the accounts in the name of his sister Purvi Modi has deposits of GBP 27,38,136.
This totals around Rs 283.16 crore, they said.
The central probe agency is expected to now make a move for the attachment of these bank accounts under the PMLA.
The ED along with the CBI are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to defraud the Brady House branch of the PNB in Mumbai to the tune of over Rs 13,000 crore.
The alleged scam was unearthed last year and Purvi Modi was also named as an accused by the ED in its chargesheet filed before a Mumbai court.
It is said that the huge amount was sent through layers. First, the money was sent to Dubai, then Hong Kong and further to Switzerland, said media reports.
Meanwhile, the ED has already frozen Nirav Modi’s assets worth around Rs 2,000 crore in India and abroad.
Fugitive Nirav Modi and his uncle Mehul Choksi are wanted by the ED and CBI for allegedly defrauding Public sector-- Punjab National Bank (PNB) of worth Rs 13,400 crore.
In early 2018, both Mehul Choksi and Nirav Modi fled the country before the multi-crore fraud came to light.