New Delhi: A special Prevention of Money Laundering Act (PMLA) court on Wednesday sent arrested Firestar Group Vice President Shyam Sunder Wadhwa, a confidant of jeweller Nirav Modi, to the Enforcement Directorate (ED) custody for seven days.
Wadhwa was arrested yesterday by the ED, who registered a case under the PMLA against Nirav Modi, Mehul Choksi, and others in the Punjab National Bank (PNB) fraud case. During the course of the investigation, a total of 251 searches were conducted all over India. It led to the seizure of diamond, gold, pearls, and precious and semi-precious stones.
Further, attachments of immovable properties belonging to Nirav Modi Group and Mehul Choksi Group have been provisionally attached. The total value of seizures and attachment is approximately Rs 7638 crore. A joint search with the Central Bureau of Investigation (CBI) was also conducted on March 22, at the residential premises of Nirav Modi at Samudra Mahal, Mumbai. The search continued for three days and resulted in the seizure of antique jewelry valued at Rs 15 crore, high-end watches valued at Rs 1.40 crore, and paintings worth approximately Rs 10 crore.
