The alleged scam was unearthed last year and Purvi Modi was also named as an accused
Nirav Modi
As per sources, four Swiss bank accounts belonging to fugitive diamantaire Nirav Modi and his sister Purvi Modi have been frozen by authorities in Switzerland on Thursday.
Sources added that the bank accounts of the duo having deposit balance of USD 3,74,11,596 (over Rs 258 crore) and GBP 27,38,136 (over Rs 283 crore) were seized on the request of the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002.
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The request by the probe agency was made because the money deposited in these bank accounts was illegally siphoned off from the Indian banks.
The fugitive diamantaire was arrested by Scotland Yard in connection with the Punjab National Court (PNB) loan default case on March 19 this year.
Modi has been lodged at Wandsworth prison in south-west London.
The central probe agency is expected to now make a move for the attachment of these bank accounts under the PMLA.
The CBI along with the ED are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to defraud the Brady House branch of the PNB in Mumbai to the tune of over Rs 13,000 crore.
The alleged scam was unearthed last year and Purvi Modi was also named as an accused by the ED in its charge sheet filed before a Mumbai court.
India is seeking the diamond merchant's extradition to make him face the law of the land for allegedly committing economic offences like fraud and money laundering.
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