ED raids Nirav Modi offices, showrooms in relation to the PNB scam; famous jeweler likely in Switzerland say reports
Mumbai, Feb 15 (IBNS): The Enforcement Directorate (ED) raided the home, offices and showrooms of Nirav Modi, the globally acclaimed diamond jeweler, with regard to the alleged Punjab National Bank (PNB) scam, according to media reports on Thursday.
The raids were conducted across Delhi and Mumbai, media reported.
Reportedly, ED has filed Rs 11,300 crore case against Nirav Modi.
On Wednesday, India's second largest government bank, PNB said that $1.8 billion or over Rs. 11,000 crore of taxpayers' money had been illegally transferred abroad to select customers from a single branch in Mumbai, reported NDTV.
The news channel also reported that Nirav Modi, 48, is already being investigated by the CBI in connection with fraud worth Rs. 280 crore. The diamond merchant was raided by Income Tax officials on January 31; his offices in Delhi, Surat and Jaipur were searched.
According to some media reports on Thursday, Nirav Modi has written to banks saying that he will repay the loans.
Reports say that he is ready to pay Rs 5,000 crore, reported CNN-News18.
The news channel also quoted ED as saying that Nirav Modi is in Switzerland now.
Randeep S Surjewala, Communications in Charge of All India Congress Committe tweeted, "Who is Nirav Modi? The new #ModiScam? Was he tipped off like Lalit Modi & Vijay Mallya to escape by someone within the Govt? Has it become the norm for letting people run away with public money? Who is responsible?"
Delhi CM Arvind Kejriwal tweeted, "Is it possible to believe that he or vijay mallya left the country without active connivance of BJP govt?"
Details on the jeweler's whereabouts are awaited.
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