May 26, 2018, 8:03 am IST
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Complaints filed with CBI in Rs 11,330 crore PNB fraud

Complaints filed with CBI in Rs 11,330 crore PNB fraud

 Feb 14, 2018

The Punjab National Bank has filed two complaints with the Central Bureau of Investigation in connection with the fraudulent transactions to the tune of 1.77 billion dollars (around Rs 11,330 crore), discovered by the bank with its Mumbai branch, sources said here on Wednesday.

Two different complaints have been registered by the bank authorities with CBI against the billionaire fashion designer Nirav modi and a jewellery brand in this connection on Tuesday night, according to sources.

According to the probe agency sources, the agency was already probing Nirav Modi in a complaint registered earlier against him. The Bank told the stock market in a statement, "The bank has found a case of fake and unauthorised transactions in which some of the selected account holders have been tried to benefit.

It seems that based on the records of these transactions, some banks have given them loans abroad." It added that the total amount of these transactions was 1,771.69 million dollars.

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