CBI: Vipul Ambani knew about PNB fraud and illegal letters

     Written by : SMTV24x7 | Thu, Feb 22, 2018, 12:38 AM

CBI: Vipul Ambani knew about PNB fraud and illegal letters

New Delhi, Feb 21: Vipul Ambani, an arrested aide of fugitive billionaire Nirav Modi, knew about the fraudulent and illegal Letters of Undertaking (LoUs) issued by the Punjab National Bank in the Rs 11,300 crore fraud, CBI officials said on Wednesday.

The LoUs were allegedly signed by Gokulnath Shetty, who retired as Deputy Manager of the bank in May 2017. The CBI and the Enforcement Directorate have launched a major probe and manhunt in one of the biggest financial scams in India that has shaken the country's banking sector.

Ambani was arrested on Tuesday and is being continuously grilled by the Central Bureau of Investigation (CBI) officials in Mumbai.