New Delhi: The Enforcement Directorate (ED) Thursday said it has frozen mutual funds and shares worth Rs94.52 crore of the Nirav Modi and Mehul Choksi groups in connection with a money-laundering probe against them in the Rs11,400-crore alleged fraud at the Punjab National Bank (PNB).
It also seized nine high-end luxury cars of Modi and a few exquisite paintings, as part of its investigation against him under the criminal provisions of the Prevention of Money Laundering Act (PMLA). Some of the cars that were seized include Rolls Royce Ghost, two Mercedes Benz GL 350 CDIs, a Porche Panamera, three Honda cars, one Toyota Fortuner and an Innova
Since the fraud came to light, properties to the tune of Rs 5,736 crore have been seized. On Wednesday, the ED continued its raids for the seventh day, visiting seven companies including four shell companies in Mumbai. The Income Tax department, too, has cracked down on at least 141 bank accounts belonging to Modi’s group of companies and fixed deposits worth Rs 145 crore.
Besides, the Central Bureau of Investigation (CBI) on Wednesday sealed beleaguered billionaire jeweler Nirav Modi’s farmhouse in Alibaug near Mumbai, in connection with the Punjab National Bank (PNB) scam, reported news agency