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PNB Fraud: ED Arrests Man Linked to Choksi's Businesses from Kolkata Airport

Deepak Kulkarni was arrested under the Prevention of Money Laundering Act (PMLA) and was expected to be produced before a court Tuesday, the officials said.

PTI

Updated:November 5, 2018, 11:41 PM IST
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PNB Fraud: ED Arrests Man Linked to Choksi's Businesses from Kolkata Airport
File photo of Mehul Choksi. (YouTube)
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New Delhi: The Enforcement Directorate (ED) arrested an executive of a firm linked to fugitive jeweller Mehul Choksi on Monday in connection with its money-laundering probe in the USD 2-billion PNB fraud case, officials said.

They added that Deepak Kulkarni was apprehended from the Kolkata airport after he landed from Hong Kong.

Kulkarni was arrested under the Prevention of Money Laundering Act (PMLA) and was expected to be produced before a court on Tuesday, the officials said, adding that the ED would seek his transit remand to take him to Mumbai, where the case was registered.

Kulkarni was linked to the overseas businesses of Choksi, one of the main accused in the case, and the ED had notified a Look-out Circular (LoC) against him, the officials said.

He was a director in a Hong Kong-based "dummy" firm linked to Choksi, an official said, adding that the ED had named him in a chargesheet filed against the fugitive jeweller earlier this year and a Mumbai court had also issued a non-bailable warrant against him.

Choksi, his nephew and diamond jeweller Nirav Modi and others are being probed under various criminal laws after the fraud came to light this year, following a complaint from the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of some of its employees.

Both Choksi and Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI).
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Padmaja Venkataraman
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