CBI names diamond merchant, billionaire Nirav Modi in cheating case

     Written by : SMTV24x7 | Tue, Feb 06, 2018, 12:37 AM

New Delhi, Feb 06: The Central Bureau of Investigation has booked top diamond merchant, billionaire Nirav Modi on charges of cheating Punjab national Bank of around Rs 280 crore.

In its chargesheet, CBI has named Nirav Modi, his brother Nishal Modi, wife Ami Modi and maternal uncle Mehul Chinubhai Choksi.

Some of the retired bank employees, as well as some other persons, have also been booked in this matter.

Searches were carried out at 21 locations including the residence of all accused by the CBI.

The complaint was lodged by Punjab National Bank. The complaint alleged that Modi, his brother, wife and uncle, who all are partners in three firms Diamond R US, Solar Exports and Stellar Diamonds conspired with the bank's then deputy manager Gokulnath Shetty (since retired) and another official Manoj Kharat to cheat the bank and caused 'wrongful loss' of around Rs 280 crore in 2017.