PNB scam: CBI arrests bank's Internal Chief Auditor
New Delhi [India], Feb. 28 (ANI): The Central Bureau of Investigation (CBI) on Wednesday arrested an Internal Chief Auditor of the Punjab National Bank (PNB) in connection with the fraud case against Nirav Modi and Gitanjali group.
ANI
Feb 28, 2018 21:32 IST
New Delhi [India], Feb. 28 (ANI): The Central Bureau of Investigation (CBI) on Wednesday arrested an Internal Chief Auditor of the Punjab National Bank (PNB) in connection with the fraud case against Nirav Modi and Gitanjali group.
The arrested Auditor M.K. Sharma was allegedly responsible for auditing the systems and practices of the PNB in Brady House Branch.
Earlier on Tuesday, a Mumbai Court issued summons to jeweller Nirav Modi to appear before it on March 12 in connection with the multi-crore scam.
The court also made it clear that if for any reason, Modi fails to appear before it, then a Non-Bailable Warrant (NBW) will be issued against him.
The PNB detected a billion dollar scam earlier this month, in which Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.
The Enforcement Directorate (ED) provisionally attached 21 immovable properties, worth Rs 523.72 crore, of Nirav Modi and companies controlled by him.
The scam, allegedly started in 2011, was unearthed last month, after which the PNB officials reported it to the concerned agencies. (ANI)
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