Mehul Choksi
The Enforcement Directorate (ED) attached immovable properties, valuables, vehicles and bank accounts with a total value of Rs 24.77 crore of fugitive diamond trader Mehul Choksi.
The action was taken under the Prevention of Money Laundering Act, 2002 in connection with the Punjab National Bank fraud case.
The ED has attached three commercial properties in Dubai, valuables, a Mercedes Benz E280 and Fixed Deposits controlled by Choksi, who is now said to be based in Antigua.
Mehul Choksi has committed the offence of cheating against Punjab National Bank in connivance with certain bank officials by fraudulently getting the Letter Of Undertaking/Foreign Letters of Credit issued causing wrongful loss to the bank.
Out of total Proceeds of Crime worth Rs. 6097.73 Crore, ED has attached and seized properties worth Rs. 2534.7 Crore including this attachment.
A Red Corner Notice has also been issued against Mehul Choksi on the request of ED. Prosecution Complaint has also been filed. Further investigation is in process.
Also Read: Antigua to extradite Mehul Choksi to India soon; set to revoke his citizenship
