CBI Begins To Interrrogate Choksi In PNB Fraud Case

CBI Begins To Interrrogate Choksi In PNB Fraud Case

The CBI yesterday announced that it would begin a case against jeweler Mehul Choksi , the uncle and close associate of Nirav Modi and five others in the$ 2 billion scam in a state run branch of the Punjab National Bank as part of theit investigation process. The central investigating agency told the media that Choksi, three of his companies and four employees of these companies were directly involved in the fraud which was termed by it as the largest scam in Indian banking history. The CBI yesterday filed fresh charge sheet against 22 people including Nirav Modi , former PNB chief Usha Anantasubramanium and two executive directors of the bank andb three companies of Nirav Modi. Both of the accused claimed that they were innocent and they were falsely dragged by the CBI to malign them. However Anantadubramanium and the former top officials we re not available for comment on tnis issue. The charge sheets those were filed yesterday was very much needed to restore the faith of the investors on Indian banking sector and to help the banking sector of the country to regain its lost glory according to the CBI authorities. The scam has tarnished the image of the Punjab National Bank to a large extent and hence it has begun another internal investigation process to nab the other culprits and the PNB authorities have succeeded to suspend about 20 officials in this case. The bank has lost $ 1.98 billion due to this scam which is largest for any bank in the history of Indian banking sector.

by TNBC Staff Reporter on May 17, 2018

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