PNB Fraud | Nirav Modi’s Pune And Aurangabad Properties Sealed
In a search for more assets belonging to diamond merchant Nirav Modi in the Punjab National Bank (PNB) money laundering case, the Enforcement Directorate (ED) conducted raids at different premises related to him over the past one week. The team has sealed his properties and movable assets in Pune and Aurangabad.According to ED sources, they sealed six posh apartments in Pune, which belong to Nirav and his wife Ami.
Speaking on condition of anonymity, an ED source said, “Apart from the six flats in Pune, 10 other properties, movable assets, 135 acre of land in Ahmednagar and some under-construction property in Hadapsar were sealed by Saturday night”.The total value of gems and jewellery seized so far stands at Rs 5,671 crore.The properties sealed include 10 offices, including two in Lower Parel worth around 80 crore, six houses and two flats in Pune, all of which are registered in Mr. Modi’s name, in the name of his family members or companies or the Nirav Modi Trust.Nirav Modi is ranked 1,234 in Forbes’s world’s billionaires list for 2017, and 85 in India. His financial worth is estimated at $1.73 billion through his jewellery design and retail businesses, according to the Forbes website.