Lookout notice issued – after Nirav escaped

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New Delhi, Feb 15 : A lookout notice was issued by the CBI against jeweller Nirav Modi and his associates last month in the banking fraud case but by then they had escaped from India, CBI sources said on Thursday.

According to the sources, a Look Out Circular was issued against Modi along with his wife Ami, brother Nishal Modi and Mehul Choksi in the Punjab National Bank (PNB) fraud case on January 31.

The circular was issued to all airports, ports and exit points to stop them from escaping. However, according to the sources, Modi and his associates fled the country before the notices were issued.

While Nirav and his brother Nishal left India on January 1, his wife Ami, a US citizen, and Choksi left on January 6, all before the CBI received a complaint from the PNB on January 29.

New Delhi: A day after a massive $1.8 billion fraud was unearthed in a PNB branch in Mumbai, the Enforcement Directorate launched a nationwide raid on billionaire diamond trader Nirav Modi's the offices, showrooms and workshops.The multi-pronged action came a day after the Punjab National Bank admitted to unearthing a fraud of Rs 11,515 crore involving Modi's companies and certain other accounts with the bank's flagship branch (Brady House) in Mumbai and its second largest lending window in India.The fraud, which includes money-laundering among others, concerns the Firestar Diamonds group in which the CBI last week booked Modi, his wife Ami, brother Nishal and a maternal uncle Mehul Choksi.It is learnt that Modi - whose operations are spread across Europe, the US, Middle East and Far East besides India - has written to PNB and other banks that he would return their outstandings. (Photo: IANS)
New Delhi: A day after a massive $1.8 billion fraud was unearthed in a PNB branch in Mumbai, the Enforcement Directorate launched a nationwide raid on billionaire diamond trader Nirav Modi’s the offices, showrooms and workshops.The multi-pronged action came a day after the Punjab National Bank admitted to unearthing a fraud of Rs 11,515 crore involving Modi’s companies and certain other accounts with the bank’s flagship branch (Brady House) in Mumbai and its second largest lending window in India.The fraud, which includes money-laundering among others, concerns the Firestar Diamonds group in which the CBI last week booked Modi, his wife Ami, brother Nishal and a maternal uncle Mehul Choksi.It is learnt that Modi – whose operations are spread across Europe, the US, Middle East and Far East besides India – has written to PNB and other banks that he would return their outstandings. (Photo: IANS)

The source added that around 150 Letters of Understanding were issued to Nirav Modi’s firms by the PNB. In course of the probe, the CBI has finished imaging computers seized during searches at Modi’s properties on February 3, 4 and 21.