NEW DELHI: The CBI is investigating billionaire diamond jeweller Nirav Modi and some of his firms in connection with a Rs 11,500 crore fraud case detected by state-owned Punjab National Bank (PNB), said agency .
The central agency had received two complaints from PNB against billionaire jewellery designer and a jewellery company about fraudulent transactions worth Rs 11,500 crore, official sources said on Wednesday.
The agency received the complaints about the transactions detected by the public sector bank late last on Tuesday night, sources said.
On Wednesday, PNB, in a regulatory filing to BSE Ltd, said it had detected fraudulent transactions worth $1,771.7 million (over Rs11, 000 crore) in its Mumbai branch.
“The bank has detected some fraudulent and unauthorised transactions (messages) in one of its branches in Mumbai for the benefit of a few select account holders with their apparent connivance. Based on these transactions, other banks appear to have advanced money to these customers abroad,” said PNB.
The complaints deal with fraudulent transactions reported from the bank’s branches and the amount involved is over Rs 11,500 crore, the sources said.
The allegations are being looked into and future course of action will be decided soon, they said.
The agency has refused to share any further details as it may hamper the investigation.
Agency sources said Modi is already facing a CBI probe on a complaint from the Punjab National Bank