The Central Bureau of Investigation (CBI) on Wednesday arrested the Chief Auditor of Punjab National Bank (PNB) in connection with the fraud involving billionaire diamond merchant Nirav Modi and Mehul Choksi.
The Central Bureau of Investigation (CBI) on Wednesday arrested the Chief Auditor of Punjab National Bank (PNB) in connection with the fraud involving billionaire diamond merchant Nirav Modi and Mehul Choksi.
The internal Chief Auditor has been identified as Mr. MK Sharma who is Chief Manager rank ( Scale IV) officer.
He was allegedly responsible for auditing the systems and practices of the bank's Brady House Branch and report the deficiencies to Zonal Audit Office.
He will be produced tomorrow in the designated court on Thursday.
The total assets seized by the ED, in this case, are now over Rs 6,393 crore, officials had said, adding that this was being independently valued.
Modi, Choksi and others are being investigated by the ED and other probe agencies after the fraud recently came to light, following a complaint by the PNB that they allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.
The CBI and the ED have registered two FIRs each to probe the case. Both Modi and Choski are said to have left the country before criminal cases were lodged against them.
The ED, a central probe agency under the Union finance ministry, is investigating if the allegedly defrauded bank funds were laundered and proceeds of crime were subsequently used by the accused to create illegal assets and black money.
The agency has also asked about 16 other banks, apart from the Punjab National Bank, to share with it the details of loans extended and collaterals offered in the case of Modi, Choksi and their companies.
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