New Delhi : Two bankers and a top official in celebrity designer Nirav Modi’s company seen to be at the centre of a massive Rs 11,300 crore bank fraud have been arrested by the Central Bureau of Investigation. The arrests are part of huge crackdown by central agencies that have carried out at searches at over two dozen locations across the country over the last two days.
The Enforcement Directorate, which has seized over 5,600 crores worth of diamonds, jewellery and gold in searches at showrooms and offices linked to Nirav Modi and his uncle Mehul Choksi are continuing. The arrests are, however, the first in the case.
A retired PNB deputy manager Gokulnath Shetty and another bank official, Manoj Hanument Kharat, were placed under arrest after the CBI questioned them for several hours to figure how they were able to pull off what is being described as Indian’s biggest banking fraud. Mr Shetty was a deputy general manager in the foreign-exchange department looking after import payments. He retired last year.
