Four Swiss bank accounts of Fugitive Economic Offender Nirav Modi and his sister, who is the main accused in the 2 billion dollar PNB scam, have been frozen by Swiss authorities as part of the criminal money laundering probe.
The accounts currently have a total of 283.16 crore rupees and were frozen following the request of enforcement directorate (ED). ED had informed Swiss bank authorities that the money was “proceeds of crime” of a bank fraud perpetrated by the duo.
The ED, they said, made the request to Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).
Official sources said while the accounts of Nirav Modi, the diamantaire under arrest in this case in London, have deposits of $3,74,11,596, the accounts in the name of his sister Purvi Modi has deposits of GBP 27,38,136. This totals around ?283.16 crore. The central probe agency is expected to now make a move for the attachment of these bank accounts under the PMLA.
Nirav Modi and his family owe the Punjab National Bank Rs 12,636 crores. He is currently in the United Kingdom and is seeking political asylum in Britain though, the Indian government has officially asked for his extradition. The Enforcement Directorate has begun attaching assets of the accused and is seeking to immediate confiscation under the Fugitive Economic Offenders Ordinance.