Mumbai: The Central Bureau of Investigations (CBI) conducted searches at jeweller Nirav Modi’s farmhouse at Alibaug.
The agency conducted a search at the sprawling farmhouse on Tuesday. Until now, fifty employees from Punjab National Bank and executives from Gitanjali group have been called for questioning so far by the CBI at the Bandra-Kurla complex office in the Punjab National Bank scam worth Rs.11400 crore. The investigation conducted revealed the beneficiaries of the fraud of Rs.280.70 crores of public money namely Nirav, his wife Ami, his brother Neeshal and partner Mehul Choksi, all partners of the firms.
So far, the CBI has arrested twelve persons in the scam. Vipul Ambani, the Chief Financial and Operating Officer (CFO) of Firestand Diamond, Rajesh Jindal, General manager of PNB, Kavita Mankikar, executive assistant and authorised signatory of M/s. Diamond R US, M/s. Stellar Diamond and M/s. Solar Exports firms which is owned by jeweller Nirav Modi.
Arjun Patil, a senior executive at Firestar group, Kapil Khandelwal, CFO of Nakshatra group and Gitanjali group and Niten Shahi, manager of Gitanjali group, Gokunath Shetty, retired Deputy Manager of Punjab National Bank, Manoj Hanumant Kharat, single window operator at the bank, Hemant Dahyalal Bhatt, authorised signatory of the firms, Bechu Tiwari, Chief manager in charge of Forex Department, Yashwant Joshi, scale II manager at forex department and Praful Sawant, Scale I officer of export have been arrested.
Shetty in conspiracy with Kharat fraudulently issued eight Letter of Understanding (LOUs) without sanction and without having the powers to do so and thereby abused his official position as a public servant. The investigations further revealed that the documents or applications for issue of the fraudulent LOUs were not available with the PNB.