New Delhi,
On Wednesday, The Enforcement Directorate (ED) arrested Shyam Sunder Wadhwa, Vice President, Finance, of Firestar Group and a close confidante of jeweller Nirav Modi under a Prevention of Money Laundering Act.
Earlier on Saturday, The ED registered a case under PMLA against Nirav Modi, Mehul Choksi, and others in the Punjab National Bank fraud case.
During the course of the investigation, a total of 251 searches were conducted all over India.
They also seized diamond, gold, pearls, and precious and semi-precious stones.
Further, attachments of immovable properties belonging to Nirav Modi Group and Mehul Choksi Group have been provisionally attached.
The total value of seizures and attachment is approximately Rs. 7638 crores.
On March 22, a joint search with the CBI was also conducted, at the residential premises of Nirav Modi at Samudra Mahal, Mumbai.
The search lasted for three days and resulted in the seizure of antique jewellery valued at Rs. 15 crores, high-end watches valued at Rs 1.40 crores, and paintings worth Rs. 10 crores.
