New Delhi: The Central Bureau of Investigation (CBI) has booked billionaire diamond merchant Nirav Modi, his brother and wife and a business partner for allegedly cheating Punjab National Bank of over Rs 280.70 crore during 2017, officials said.
The CBI has acted on a complaint from the Punjab National Bank, which alleged that Nirav, his brother Nishal, wife Ami and Mehul Chinubhai Choksi, all partners of Diamond R US, Solar Exports, Stellar Diamonds, were in conspiracy with officials of the bank and cheated it, causing “wrongful loss”, the officials said.
“The public servants committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017,” the FIR has alleged. The CBI has registered the FIR under the Indian Penal Code (IPC) sections related to criminal conspiracy, cheating and provisions of Prevention of Corruption Act against the four, an official said.
The bank has alleged in the complaint that a fraudulent issuance of Letters of Undertakings (LOU) took place on January 16, 2018 for and on behalf of the accused firms.