In the latest development, which might come as a big blow to the PNB multi-crore scamster Mehul Choksi, the Enforcement Directorate on Monday arrested Mehul Choksi’s close associate Deepak Kulkarni from Kolkata. Kulkarni was arrested after he landed in Kolkata from Hong Kong.
https://twitter.com/ANI/status/1059652993719656448?ref_src=twsrc%5Etfw
Deepak Kulkarni was the director of Mehul Choksi’s dummy firm in Hong Kong. A lookout circular (LoC) was issued against him by ED and CBI earlier.
Kulkarni was apprehended under the Prevention of Money Laundering Act (PMLA) and was expected to be produced before a court on Tuesday, the officials said, adding that the ED would seek his transit remand to take him to Mumbai, where a case was registered against him earlier this year. A Mumbai court had also issued a non-bailable warrant against him.
https://twitter.com/ani_digital/status/1059672162292908037?ref_src=twsrc%5Etfw
Mehul Choksi, his nephew Nirav Modi, and others are being probed under various criminal laws after the Indian financial sector was rocked by a startling revelation of a fraud this year following a complaint by the Punjab National Bank (PNB). According to the public sector bank, the fugitives had allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of a few employees of the bank.
Both Choksi and Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI). Choksi is currently in Antigua. The Indian government is pressing for his extradition.