The Enforcement Directorate (ED) has seized assets of fugitive jeweler Nirav Modi and the assets are worth Rs 637 crore. "Bringing back the proceeds of crime from a foreign jurisdiction is perhaps unique to Nirav Modi and Mehul Choksi case," said the Enforcement Directorate in a statement.
The Central Probe Agency under the Prevention of Money Laundering Act (PMLA) issued five separate orders and the included properties boast of houses in London and New York, bank balance in Singapore and other countries, a flat in Mumbai and diamond-studded jewellery that was shipped from Singapore to India.
The attached assets comprise of two apartments in New York’s central park area worth Rs 216 crore which are in Nirav Modi’s name. “A flat worth Rs 56.97 crore on Marylebone road in London has also been attached and Nirav Modi’s sister Purvi is its “beneficial owner”, the ED said. The investigative agency also seized diamond jewellery worth Rs 22.69 crore after getting them to India from Hong Kong in 23 shipments.
Bank Balance worth Rs 44 crore that was kept in a Singapore bank account in the name of a British Virgin Island-based company has been attached and the beneficial owners of these deposits have been identified as Purvi Modi and her husband Maiank Mehta. Five more overseas bank accounts that hold Rs 278 crore have been attached and they belong to Nirav Modi, Purvi Modi and their controlled firms. The agency reveals that it was discovered during investigation that maximum money was transferred to these accounts after FIRs were filed in the scam.
A Mumbai flat in a tiny locality of SoBo worth Rs 19.5 crore, owned by Purvi Modi has also been attached. Besides attaching these assets, an Interpol Red Corner notice was also issued against Aditya Nanavati, an accused in the same case, on money laundering charges.