Saturday, May 26, 2018

Rs 140-billion PNB-Nirav Modi fraud case: How money changed hands

The Enforcement Directorate, on Thursday, filed its first charge sheet in the Rs 140-billion scam. The charge sheet was filed against Modi and 23 others associated with him, including his siblings, and a number of his firms, namely Firestar Group of Companies, M/s Solar Exports, Stellar Diamonds and Diamonds R Us. ED said to date, the diversion of the proceeds of crime, to the extent of $629.21 million, had been traced to several group companies, relatives and other dummy companies under the control of and his associates. Below are some details on the money allegedly laundered, provided by ED:

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