PNB Fraud: Employees Used Code Words, Referred to Nirav Modi as ‘Friend’
New Delhi, Feb 16: Nirav Modi, the celebrity jeweler at the helm of the Rs 11,300 crore fraud, had planned his exit from India a year before the multi-million dollar graft was unearthed by the officials of Punjab National Bank. The sources in the Central Bureau of Investigation (CBI) told Zee Media that Nirav Modi was planning to flee India in 2016 but the demonetisation move taken by the Narendra Modi government compelled him to abort his plan. [Also read: PNB Scam: Who is Nirav Modi, Accused of Fraudulent Transactions of Over Rs 10,000 Crore]
“Nirav Modi was planning to leave country around his brother Neehal’s wedding in December 2016. However Demonitisation was announced right before this and then he had to postpone his plan,” sources said. [Also read: Nirav Modi, Mehul Choksi Summoned by ED in Rs 11,400 Crore PNB Fraud Case]
They added that Nirav Modi was parking his illegal money through multiple layers where he made transactions at inflated prices. He even allegedly made transactions through fictitious companies. The investigating agencies believe that funds were routed to different cities worldwide. Firstly, funds were transferred from India to Macau, Beijing, Hongkong, Singapore, and Kuala Lumpur. [Also read: PNB Fraud: Nirav Modi Was Not Part of Davos Contingent, Govt Slams Congress For Demeaning PM Modi]
The sources emphasised that Nirav Modi prompted his plan after PNB officials tipped him off about the meeting held by PNB top officials and a complaint to be filed with CBI.
Sources claim Nirav was scared for leaving alone so he left with his brother Neeshal who is a Belgian citizen. Once Nirav And Neeshal Modi left the country successfully without raising any alarm, they alerted his uncle Mehul Choksi who reportedly left 3 days after NiMo. Meanwhile, his wife Ami Modi was kept in Mumbai to eye happening in agency, bank and media. 2 days after American citizen wife Ami also escaped with her child. Thus all 4 accused escaped within a week’s time.