PNB fraud accused Mehul Choksi criticises investigative agencies for interfering with 'course of justice'
New Delhi: Diamantaire Mehul Choksi, accused in the Rs 12,700 crore Punjab National Bank (PNB) fraud, has slammed Indian investigative agencies in a written reply to the Central Bureau of Investigation. In the letter dated March 7, Choksi told CBI officials that he would not be able to return to India as his passport has been cancelled. "As my Passport stands suspended, I further wish to point out that the RPO Mumbai has not given me any explanation as to why my Passport has been suspended and as to how I am a security threat to India," he said in the letter. Choksi, also referred as 'Pappu' among diamond traders, said he is not in a position to travel due to his "persisting health problem".
"I had a cardiac procedure which was conducted in the first week of February 2018 and there is still pending work to be done on the same," he added. The co-conspirator in the mega Rs 12,700 crore PNB fraud also criticised India's investigating agencies in the letter alleging abuse of due process in the probe, reported news agency Reuters.
The jeweller went on to say that seizure of his assets, bank accounts and closing all his offices in India has tarnished his reputation, adding that the investigative agencies acted with a "pre-determined" mind. He blamed the agencies for allegedly interfering with the course of justice, added the report.
Meanwhile, it has come to light that beleaguered diamantaire Nirav Modi's companies may have used most of the funds raised fraudulently from Punjab National Bank (PNB), through Letter of Undertaking (LoUs) and guarantees, to buy immovable properties abroad.
The new development is expected to make the investigative agency's job easier in recovering the suspected assets from countries where Modi has set up his businesses. It may be noted that ED has chalked out 13 countries, whose competent courts have issued letters of request to concerned jurisdictions to help the agency in the probe, reported The Economic Times.
Apart from that, a portion of the funds was also used by Modi's firms to settle debts to overseas lenders. “We have reasons to believe that Modi’s firms settled loans raised from overseas creditors through letters of undertaking issued by PNB,” said one of the persons.
On Wednesday, several invoices accessed by TIMES NOW indicated that "someone in the system" may have been bestowing favours on beleaguered diamantaire Nirav Modi for at least 20 days after the mega Rs 12,700 crore banking sector fraud was discovered. According to the series of invoices, Modi's flagship company Firestar Diamond asked for $3.5 lakh or almost Rs 2.28 crore from a Surat-based dealer. It may be noted that the deal was struck nine days after PNB lodged a complaint against Modi.
Modi, Choksi, and other family members - who fled the country - were named as key conspirators in the Rs 12,700 crore Punjab National Bank (PNB) fraud. The first FIR was filed in the case on February 14 against Nirav Modi, his wife Ami, brother Nishal, uncle Mehul Choksi (co-offender) and all the firms under his name.
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