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Police expand probe against jeweller Nirav Modi in PNB fraud case

Reuters  |  MUMBAI 

By Abhirup Roy and Devidutta TripathyMUMBAI (Reuters) - India's Punjab National Bank has filed a new complaint against Nirav Modi, the diamond tycoon it has accused of being part of a near $2 billion fraud, alleging that companies he controlled had misused even legitimate loans and guarantees.The complaint, registered with police earlier in the week according to a copy seen by Reuters on Thursday, widens the scope of the investigation into what has been dubbed the biggest bank fraud in Indian history.Last month, Punjab National Bank (PNB) and authorities accused two jewellery groups - one ...

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First Published: Thu, March 08 2018. 21:30 IST
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