NEW DELHI — The Enforcement Directorate Feb. 19 conducted searches at over 40 more locations in several cities across India in connection with the multi-crore Punjab National Bank scam, an official said.
The agency raided 10 places in Mumbai, six each in Ahmedabad and Bengaluru, four in Chennai, three in Surat, two each in Bihar, Lucknow, Jalandhar and Hyderabad and one in Delhi.
The raids are also being carried out at diamond merchant Nirav Modi's house in Mumbai's Worli.
The ED on Feb. 16, 17 and 18 had conducted raids at locations across India in connection with the PNB fraud involving around Rs 11,300 crore. Till Feb. 19, diamonds, gold and jewelry worth Rs 5,674 crore had been seized during the raids, ED spokesman, Anil Rawal had told IANS.
The ED Feb. 15 registered an FIR under the Prevention of Money Laundering Act and conducted raids after allegations of fraud surfaced against billionaire Nirav Modi and his Mumbai-based firms – Diamonds R Us, Solar Exports and Stellar Diamonds.
The action is based on a Central Bureau of Investigation case registered against Nirav Modi Feb. 14 in connection with a fraud involving Rs 6,498 crore.