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PNB fraud: ED attaches Nirav Modi’s foreign assets worth Rs 637 cr (Second Lead)
New Delhi, Oct 1 (IANS) The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, even as the agency continued its investigation into the Punjab National Bank (PNB) fraud case.
A senior ED official said the agency had been working in close coordination with other foreign agencies in order to identify and attach foreign properties of Nirav Modi in various locations.
The attached properties were in the form of jewellery, bank accounts and immovable properties. Among them are two apartments worth Rs 216 crore in New York’s popular Central Park, which are registered in the name of Nirav Modi, he said.
According to the agency officials, they were purchased in the name of The Ithaca Trust. One of the properties in central park south, New York, was in the name of Central Park Real Estate LLC, a group company of Firestar Group. In 2018, it was transferred to the Trust.
The beneficiary of the Ithaca Trust allegedly is Nirav Modi’s wife, Ami Modi, a US national, and her children and the settler of the said trust was Nirav Modi’s sister Purvi Modi, a Belgian national.
“The other property was also purchased in the name of The Ithaca Trust in 2017. And before paying the consideration for the property, the stolen fund was layered extensively involving multiple jurisdictions like Dubai, Bahamas, USA, Singapore etc.,” the official said.
“The consideration was paid from a fiduciary account of Commonwealth Trust Company, Singapore and the deal was carried out by a lawyer firm based in US,” the official said.
Meanwhile, a flat worth Rs 56.97 crore on Marylebone road in London has also been attached, of which the beneficial owner is Nirav Modi’s sister Purvi.
According to the ED official, the property was bought in the name of the Belvedere Holdings Group Limited which was managed by Trident Trust in Singapore, and established by Monte Cristo Trust. “The said trust is having Purvi Modi as settler and beneficiary,” he said.
The agency also attached five bank accounts containing over Rs 278 crore, belonging to Nirav Modi, Purvi and others in the case.
The official said that it had brought diamond jewellery worth Rs 22.69 crore back to India from Hong Kong.
According to the ED, a stock of jewellery was exported to Hong Kong after a case was registered against Nirav Modi by the Central Bureau of Investigation (CBI) in January. This was kept in a vault of a private company in Hong Kong on behalf of Nirav Modi.
“The agency contacted the company and its London headquarters and after much persuasion and follow up, it successfully brought back the jewellery to India,” the official said.
He also said that the stock value of the jewellery was around Rs 85 crore and the jewellery was sent to Hong Kong by Firestar Group of Companies. On independent valuation, the value of jewellery came to Rs 22.69 crore.
The ED has also attached a flat in south Mumbai worth Rs 19.5 crore which was in sister Purvi’s name.
The official said the flat was purchased by Purvi in 2017 and the deed was signed by Nirav Nodi’s brother Neeshal, who is also a Belgian national and who held a power of attorney.
“But the consideration of the flat was paid by Purvi through her Barclays Bank account maintained in Singapore,” the official said.
Interpol has issued a Red Corner Notice against Nirav Modi, Neeshal, Purvi and his executive Subhash Parab.
On Monday, Interpol, at the request of the CBI and ED, issued a Red Corner Notice against Nirav Modi’s trusted official, Aditya Nanavati.
Nanavati used to head the operations of Firestar Diamond’s business in Hong Kong. It is learnt that he is also in Belgium.
The official also said that Letters of Rogatory (LR) have also been sent to the authorities of foreign jurisdictions to enforce the said provisional attachment orders.
Nirav Modi and his uncle Mehul Choksi of Gitanjali Group are under probe by both the CBI and ED. The ED had on May 24 and 26 filed charge-sheets against both. Non-bailable warrants have been issued against them.
Nirav Modi left India before the scam was reported to the CBI.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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