The Hush Post | 8:13 pm | One-minute read |
The Enforcement Directorate (ED) on Thursday attached Mehul Choksi’s movable and immovable properties, vehicles and bank accounts in connection with the multi-crore PNB fraud.
The ED initiated the action under the Prevention of Money Laundering Act (PMLA). It attached Choksi’s properties worth 24.77 crore.
The Rs. 13,400 crore PNB fraud has Mehul Choksi and nephew Nirav Modi as the prime accused.
‘ABROAD FOR MEDICAL CARE’
Choksi has blamed the bottlenecks in cash and supply chain for his misfortunes. His submissions in the court claim that he is under a debt of over 10 crore dollars. He submitted that he hadn’t fled from the country and was abroad to get medical treatment. Choksi had also expressed his willingness to join the investigations, but said he couldn’t do so owing to his bad health. Earlier, the ED had attached properties of Choksi and others worth 218 crore.
ANTIGUA TO REVOKE CITIZENSHIP
The billionaire diamond trader is currently in Antigua and has attained citizenship there. Antigua Prime Minister Gaston Browne said on June 25 that Choksi’s citizenship will be revoked by the Caribbean country after he exhausts all his legal options.