PNB manager arrested in connection with fraud

 SMTV Desk 2018-02-22 00:22:29  PNB, manager, arrested, connection, fraud, nirav modi
PNB manager arrested in connection with fraud

New Delhi, Feb 21: The CBI on Wednesday said it has arrested a General Manager-rank officer of the Punjab National Bank (PNB) in connection with the Rs 11,300 crore fraud and sealed diamond merchant Nirav Modi s Alibaug farmhouse in Maharashtra.Rajesh Jindal, who was holding the charge of Mumbai-based PNB s Brady House branch between August 2009 and May 2011, was arrested on Tuesday night after daylong questioning in Mumbai. The Central Bureau of Investigation (CBI) officials said the fraud perpetrated by the issuance of Letters of Understanding (LoUs) and Foreign Letters of Credit (FLCs) by PNB for sanction of loans to diamantaire Nirav Modi and his uncle Mehul Choksi s group of firms took place during Jindal s tenure.