PMLA court issues non-bailable arrest warrant for Nirav Modi’s wife in PNB fraud case
A Prevention of Money Laundering Act court in Mumbai issued a non-bailable arrest warrant for Nirav Modi’s wife Ami Modi on March 15 in connection with the Punjab National Bank fraud case.
The Special PMLA Judge M S Azmi reviewed a supplementary charge sheet filed against jewellery tycoon Nirav Modi by the Enforcement Directorate and decided to issue a non-bailable warrant for his wife Ami Modi’s arrest, as reported by the Press Trust of India. The ED has accused Ami Modi in the charge sheet of using an international bank account move around $30 million (Rs 200 crore) that is suspected to have been procured by fraudulent means.
According to the charge sheet, Ami Modi transferred the funds and then used them to purchase property in the US in New York’s Central Park. Ami Modi was not named as an accused in the PNB fraud case in the first charge sheet filed by the ED in May 2018 but has now been named in the supplementary charge sheet it issued last week.
Nirav Modi and his Uncle and fellow jeweller Mehul Choksi are accused of fraudulently obtaining at least $2 billion in the largest scale fraud in India’s banking history. Both are residing abroad and refuse to return to India to stand trial. Modi has been tracked down to a luxury apartment in Central London from where he is running a new, UK-based jewellery wholesale business.
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