New Delhi: The Punjab National Bank (PNB) on Thursday has detected another fraud case at a Mumbai branch, which is at the centre of around Rs 9.9 crore fraud, according to a complaint with the police. The new development unfolds after the PNB had detected a 1.77 billion US dollar fraud, wherein noted jewellery designer Nirav Modi had acquired multiple letters of undertaking to avail overseas credit from a number of banks on February 14.
In this regard, the state-owned lender had filed cases against Nirav Modi and his uncle, Mehul Choksi, the owner of Gitanjali Gems Pvt Ltd. Last Thursday, the Central Bureau of Investigation (CBI) registered a fresh case against two firms of Nirav Modi.
The billionaire businessman, who owns Firestarter Diamond International Private Limited, and Choksi have been accused of defrauding PNB of Rs 12,600 crore, including Rs 1,300 crore being added to the fraud kitty on February 26. The scam that started in 2011, was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies.
