The Enforcement Directorate (ED) has provisionally attached valuables worth about ₹255 crore in Hong Kong as part of the alleged proceeds of crime in the Punjab National Bank (PNB) fraud case involving diamond merchant Nirav Modi.
The total attachments in connection with the case that also involves Nirav Modi's uncle Mehul Choksi now stand at ₹4,744 crore.
“The said valuables were exported vide 26 shipments by Dubai-based companies of Nirav Modi to the Hong Kong firms controlled by him. They were sent after the registration of a criminal case against him,” said an official.
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Based on the CBI FIRs, the ED registered a money laundering case against Nirav Modi and others on February 15.
It is alleged that Nirav Modi and others committed the offence of cheating the PNB in connivance with certain bank officials by fraudulently getting Letters of Undertaking issued without following prescribed procedure.