The special court on Friday issued a non-bailable warrant against wife of fugitive diamantaire Nirav Modi in connection with the money laundering complaint filed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) fraud case.
The warrant against Ami Modi was issued by special Prevention of Money Laundering Act (PMLA) judge MS Azmi after he took cognisance of the supplementary charge sheet filed by ED against Nirav and other accused a few days ago.
ED sources had said the funds that Ami laundered were used to buy property in the plush Central Park area in New York. In the United States, the agency traced two immovable properties, both of which have been attached earlier.
The court accepted the plea to issue a non-bailable warrant against Ami, observing that she owns property worth $29.9 million in Central Park. The judge observed that she let $26 million be routed through Nirav’s sister, Purvi. The money was later used to buy properties abroad.
Meanwhile, the court issued summons to other companies, which are made accused by the investigating agency, in the case. The agency claimed the Modis had established various fake companies that were used as a platform to launder money obtained from the letters of undertaking (LoUs).
These LoUs were allegedly issued in a fraudulent manner by PNB’s Brady House branch in Mumbai to the group of companies belonging to Nirav since March 2011 till the case came to light. Nirav is currently living in a three-bedroom apartment at the landmark Centre Point Tower block in London, UK newspaper The Daily Telegraph reported last week, with a video of a different-looking Nirav.
Mar 16, 2019 00:31 IST
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