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PNB scam: Fraud by Nirav Modi, Choksi widens to $2 bn; top 10 developments

The ED has summoned Punjab National Bank Managing Director & CEO Sunil Mehta in connection with the banking scam

PNB tightens staff transfer policy to ensure irregularities do not recur
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Punjab National Bank (PNB)

BS Web Team New Delhi
The massive Punjab National Bank (PNB) fraud just got bigger, with the scam-hit lender saying that the fraud allegedly perpetrated by absconding businessman Nirav Modi and his uncle Mehul Choksi may be worth around $2 billion, over $204 million more than the previous estimate. Meanwhile, the key accused in the alleged scam -- Modi, his wife Ami, and Choksi -- on Monday skipped their scheduled appearance before the Enforcement Directorate (ED) in Mumbai.     

The ED will also be looking for information about Modi and Choksi's assets in six foreign countries. The hunt for their foreign assets is set

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First Published: Feb 27 2018 | 2:17 PM IST

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