Mumbai: The CBI and the Enforcement Directorate (ED) on Thursday conducted pan-India raids at 17 properties belonging to diamond merchant Nirav Modi and his business aides in connection with the fraud.
Seizures to the tune of Rs 5,100 crore were done by the ED till late evening, officials said.
The ED officials added that would probe the roles of senior officers from PNB as fraudulent transactions to the tune of such a huge amount was not possible without their connivance.
The companies in question are Nirav Modi’s outlets, Firestar Diamond Pvt Ltd and Firestar International Pvt Ltd. Modi, his wife Ami, brother Nishal and relative Mehul Choksi are partners in Diamonds R US, Solar Exports and Stellar Diamonds that have showrooms in India and abroad.
“The ED searched 17 premises across India of Nirav Modi and Geetan-jali Gems in case related to fraud in PNB. Stocks of gold, diamond and precious stones worth Rs 5,100 crore seized,” said an ED statement.
