New Delhi: The Interpol has issued a Crimson Nook Discover (RCN) towards Nehal Modi, a step brother of Nirav Modi, the prime accused within the USD 2 billion PNB rip-off case, officers mentioned on Friday.
They mentioned the worldwide arrest warrant towards the Belgian nationwide Nehal Modi, 40, has been issued on fees of alleged cash laundering being probed by the Enforcement Directorate.
Nehal Modi is said to be within the US and a Mumbai court docket has issued two open-ended (with out deadline) non-bailable warrants (NBWs) for arrest towards him.
It’s on the idea of those NBWs and cost sheet that the ED requested for an Interpol (worldwide police) discover towards Nehal Modi.
The ED mentioned Nehal Modi was the “protector and investment advisor” for the 48-year-old Nirav Modi in addition to Mehul Choksi, one other prime accused within the case.
Nehal Deepak Modi was born in Antwerp, Belgium, on March 3, 1979, and he is aware of languages equivalent to English, Gujarati and Hindi, based on the RCN.
In its RCN issued towards a fugitive, the Interpol asks its 192 member-countries to arrest or detain the individual if noticed of their international locations after which extradition or deportation proceedings can start.
Nehal Modi has been named within the cost sheet filed by ED on this case and he has been charged with destruction of proof and “knowingly and intentionally” aiding Nirav Modi in his alleged unlawful acts.
“He (Nehal Modi) was looking after the affairs of Twin Fields Investments Limited and Bailey Bank and Biddle for Nirav Modi. Both these companies had received around USD 50 million from dummy companies of Nirav Modi which in turn received this fund from the fraud committed on PNB,” the ED mentioned in a press release.
For Nirav Modi, it added, Nehal turned the protector and funding advisor of ‘The Ithaca Trust’.
“The mentioned belief acquired tainted funds to the tune of USD 30 million after in depth layering and two immovable properties have been bought in USA from these.
“After the case broke out, Nehal Modi had handled the proceeds of crime and had taken away diamonds price USD 6 million, 150 containers of pearls from Hong Kong and money of AED (UAE Dirham) 3.5 million and 50 kg gold together with Mihir Bhansali, one other co-conspirator within the case, from Dubai,” the company alleged.
Nehal Modi was “also involved” in destroying digital proof like cellphones and server pertaining to the case in Dubai.
In Choksi’s case, it mentioned, Nehal Modi was “in-charge” of companies like Samuels Jewellers INC and Diamlink Inc.
“At his instance, these companies received around USD 19 million of proceeds of crime in the guise of royalty, advances etc from Dubai-based shell companies of Mehul Choksi,” the ED charged.
Nirav Modi and his uncle Mehul Choksi are alleged to be the primary perpetrators of India’s greatest financial institution fraud case that got here to the sunshine final 12 months.
The case pertains to dishonest the state-run Punjab Nationwide Financial institution by way of fraudulent issuance of Letters of Enterprise and International Letters of Credit score price over USD 2 billion (over Rs 13,000 crore) by the duo.
Whereas Nirav Modi is in jail in London and is contesting his extradition to India, Choksi is said to be in Antigua.
The Interpol earlier issued RCNs towards Nirav Modi, his sister Purvi Modi and Bhansali within the money-laundering case.
The CBI can be probing this financial institution fraud in PNB’s Brady Home department in Mumbai.