NEW DELHI: Jeweller Nirav Modi who was involved in the multi-crore Punjab National Bank(PNB) fraud, have ignored the directive of the Enforcement Directorate (ED) by remaining out of immediate reach. ED sources claim that Nirav Modi is currently in London on a Singapore passport. His brother Nishal Modi and sister Purvi Mehta are said to be holding Belgian passport. Nishal is in Antwerp and Purvi is in Hong Kong., as per sources.
ED had sent summons to Nirav Modi's father Deepak Modi, sister Purvi Mehta and her husband Mayank Mehta through an email, said an ED official. They have been asked to appear before the ED investigators at its Mumbai office. This is to record their statements and file chargesheet in a special Prevention of Money Laundering Act (PMLA) court in Mumbai.
The banking fraud happened during 2011-2017 by illegal issuance of Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLC's). These letters also underwent rolling several times. The amount involved in this money laundering probe is Rs. 13,000 crore. Purvi Mehta is being held for round tripping of Nirav Modi's laundered money via the Foreign Direct Investment (FDI) back to India. Purvi's husband has also been held for doing such supporting activities for Nirav Modi. So, the diamond merchant and family is under probe now.