Nirav Modi – The businessman as well as his uncle Mehul Choksi among with others are being probed by the ED on money laundering charges in connection with an over around USD 2 billion alleged bank fraud at a PNB branch in Mumbai as well.
The Enforcement Directorate (i.e. ED) on Wednesday told it has confiscated assets worth around Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offender’s law.
The businessman and also his uncle Mehul Choksi among with others are being probed by the ED on money laundering charges in connection with an over around USD 2 billion alleged bank fraud at a PNB branch in Mumbai as well.
“The confiscated properties are in the form of the four flats at the iconic building Samudra Mahal in Worli Mumbai, as a sea-side farm house and also land in Alibaug, a wind mill in Jaisalmer, a flat in London as well as residential flats in UAE, shares and bank deposits,” as the central probe agency told in a statement.
A special court in Mumbai had on June 8 authorized the ED to confiscate the assets. Nirav Modi was also declared as a fugitive economic offender by the same court on December 5 last year as well.
“The ED has been attached the properties worth around Rs. 329.66 crores under the FEO Act, 2018 which now stands confiscated to the central government,” as it told as well.
The agency till now has been attached assets worth around Rs 2,348 crore of Nirav Modi under the Prevention of Money Laundering Act (i.e. PMLA).
Nirav Modi (49) is currently lodged in a UK jail that after being arrested in London in March 2019 and also is currently fighting extradition to India as well.