The Enforcement Directorate today informed that fugitive businessman Nirav Modi’s sister has remitted an amount of approximately Rs 17.25 crore from a bank account in UK to the Indian government. In a statement issued today, ED informed that Purvi Modi, the sister of PNB bank scam accused Nirav Modi, remitted $2316889.03 from a bank account in London, which is said to be proceeds of the crime.
Purvi Modi said that the account was opened by Nirav Modi in her name without her knowledge, to park money earned from the scam. She informed that she came to know about the account on 24 June, the money in the account does not belong to her, and after that she remitted the amount in the account to the govt of India.
In the PNB bank scam case, Purvi Modi and her husband Maiank Mehta were also named as accused. However, they were granted pardon from criminal proceedings in exchange of help in the PNB loan fraud case. The remittance of the amount was part of this cooperation in the investigation.
The Special Court in the case had approved the application of the couple for pardon in the case in January this year, and had allowed for ‘grant of tender of pardon’ on the conditions that they will make full and true disclosures, and had allowed to turn them as approvers in the case.
“On June 24, Purvi Modi intimated Enforcement Directorate that she had received the knowledge of one bank account in London, United Kingdom in her name, which was opened at the behest of her brother Nirav Modi and that the funds did not belong to her,” the ED said.
The ED said that with the cooperation of Purvi Modi, ED has been able to recover approximately Rs 17.25 crore from the proceeds of the crime by Nirav Modi.
Nirav Modi is currently lodged in an UK jail, after his lost his appeal against extradition to India to face trial in the PNB bank scam. In February this year, The UK’s Westminster Magistrates’ Court had ordered the extradition to India, and the same was approved by the British Home Minister in April. Last month, a UK high court rejected his appeal against the extradition order.
Nirav Modi is accused in two criminal cases. First is the USD 2 billion PNB scam slapped on the diamantaire by the CBI. Second, the Enforcement Directorate (ED) case relating to the laundering of the proceeds of that bank fraud. He also faces two additional charges of evidence tampering and intimidating witnesses, which were added to the CBI case.
He had fled India just before the PNB scam was brought to the light. He had left the country and fled just when PNB had reported a massive 11,300 crore loan fraud by Nirav Modi and his uncle Mehul Choksi.
Mehul Choksi, the second accused in the fraud case, had taken up the citizenship of Antigua and has been living there, before his dramatic arrest in Dominica.