Switzerland freezes four accounts of Nirav Modi, sister Purvi Modi

Deccan Chronicle.

Nation, Current Affairs

A provisional order for attachment of these four accounts, and one more in the name of a company controlled by Nirav Modi.

Nirav Modi

New Delhi: Four Swiss bank accounts of beleaguered diamantaire Nirav Modi, the main accused in the $2-billion PNB fraud case, and his sister have been “frozen” by authorities in Switzerland as part of the criminal money laundering probe being conducted against them in India.

They said the accounts, at present, have deposits totalling Rs 283.16 crore and they have been frozen on the request of the ED after it informed Switzerland authorities that the money kept in them are “proceeds of crime” of a bank fraud perpetrated by the duo.

The ED made the request to the Swiss authorities a while back and also sent an official request under the criminal provisions of the Prevention of Money Laundering Act, sources said. A provisional order for attachment of these four accounts, and one more in the name of a company controlled by Nirav Modi, was issued by the ED in September.

Read more...