Mumbai, Feb 19: Expanding its money laundering probe into the 11,400-crore Punjab National Bank fraud case, the Enforcement Directorate (ED) on Monday carried out searches at 39 places across the country and said assets worth Rs 5716 Crore have been seized in the raids till now.
We will find out how the money laundering took place. As it is in the foreign jurisdiction it will take time to investigate, news agency ANI quoted citing ED Source was saying.
“There has been no response on the summons sent to Nirav Modi or the other accused so far. It is also being investigated as to why Gokulnath Shetty wasn’t promoted in all these years. First LoU was issued in March 2011 & was rolled over”, it added.
There has been no response on the summons sent to #NiravModi or the other accused so far. It is also being investigated as to why Gokulnath Shetty wasn't promoted in all these years. First LoU was issued in March 2011 & was rolled over: ED Sources #PNBFraudCase
— ANI (@ANI) February 19, 2018
Earlier in a day, the Central Bureau of Investigation (CBI) sealed Punjab National Bank’s Brady Road branch after conducting search operations in connection with Rs 11,400 crore fraud case involving diamantaire Nirav Modi.
The probe agency posted an official notice outside the branch in Fort — the bank’s flagship lending window in Mumbai and its second largest national outlet.
All have been restricted from opening or entering inside this branch without prior permission of the CBI or the CBI Special Court or the CBI Competent Authority.
In the meantime, the Enforcement Directorate (ED) on Monday conducted searches at over 40 more locations in several cities across India in connection with the multi-crore Punjab National Bank (PNB) scam.
The agency raided 10 places in Mumbai, six each in Ahmedabad and Bengaluru, four in Chennai, three in Surat, two each in Bihar, Lucknow, Jalandhar and Hyderabad and one in Delhi.
The raids are also being carried out at diamond merchant Nirav Modi’s house in Mumbai’s Worli.
Meanwhile, the Central Vigilance Commission issued an advisory to all public sector banks to transfer all officers who have completed 3 years as on 31st Dec 2017. It also stated that transfer of all clerical staff who have completed 5 years as on 31st Dec 2017 should be done immediately.
On Sunday, the probe agency had questioned 11 bank officials as well as Vipul Ambani, the Chief Financing Officer of Modi’s Firestar International company.
So far, the CBI arrested three PNB officials – Gokulnath Shetty, Manoj Kharat and Hemant Bhat. They are under police custody till March 3.
Apart from this, the CBI earlier named 10 other directors and officials as accused in the scam which has created a countrywide furore.
They are: Krishnan Sangameshwaran, Nazura Yashjaney, Gopal Das Bhatia, Aniyath Shivraman, Dhanesh Vrajlal Sheth, Jyoti Bharat Vora, Anil Umesh Haldipur, Chandrakant Kanu Karkare, Pankhuri Abhijeet Varange and Mihir Bhaskar Joshi.
More than Rs 11,400 crore was siphoned by using the LoU method. Bank officials and celebrity jeweller Nirav Modi and his accomplices are allegedly involved in the fraud.