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Swiss authorities freeze 4 bank accounts of Nirav Modi, sister Purvi Modi

PTI New Delhi | Updated on June 27, 2019 Published on June 27, 2019

A file photo of Nirav Modi

The accounts have a total deposit of ₹283.16 crore.

The Switzerland authorities on Thursday froze four bank accounts of beleaguered diamantaire Nirav Modi and his sister Purvi Modi, on Enforcement Directorate’s request.

The official statement said the accounts, at present, have deposits totalling ₹283.16 crore and they have been frozen on the request of the Enforcement Directorate (ED) after it informed Switzerland authorities that the money kept in them are “proceeds of crime” of a bank fraud perpetrated by the duo.

The ED, they said, made the request to the Swiss authorities sometime back and sent an official request under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

Official sources said while the accounts of Nirav Modi, who is under arrest in this case in London, have deposits of $3,74,11,596 while the accounts in the name of his sister Purvi Modi has deposits of £27,38,136. This totals around ₹283.16 crore, they said.

The central probe agency is expected to now make a move for the attachment of these bank accounts under the PMLA.

The ED along with the CBI are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to defraud the Brady House branch of the PNB in Mumbai to the tune of over ₹13,000 crore.

The alleged scam was unearthed last year and Purvi Modi was also named as an accused by the ED in its chargesheet filed before a Mumbai court.

Published on June 27, 2019

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