Interpol has issued Red Notice against Nehal Modi, the brother of fugitive diamond trader Nirav Modi, in connection with the alleged Rs 13,600 crore fraudulent bank transactions at the Punjab National Bank (PNB).
Nehal, 40, a Belgium citizen, is allegedly accused of money laundering. He is currently holed up in the US, sources said.
Exclusive- Interpol issues Red Notice against Nirav Modi’s brother Nehal Modi in connection with the Rs 13,600 crore bank fruad at Punjab National Bank.
Earlier this year, the Enforcement Directorate (ED) had requested the Interpol to issue a Red Notice against Nehal for his role in helping Nirav launder bank funds. The ED has found that Nehal “knowingly and intentionally” assisted Nirav in concealing the alleged laundering of money and “destroying evidence”.
Detailing the role of Nehal, the ED complaint had said, “… after the crisis (Rs 13,600 crore scam at Punjab National Bank), Nehal Modi, brother of Mr Nirav Modi destroyed all the cell phones of all dummy directors in Dubai and Hong Kong and arranged for their tickets to Cairo — a safe heaven”.
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