Shetty was arrested on the charges of behind at the front foot of one of the biggest scams, as he allegedly issued LoU (letter of undertakings) without any collateral.
Major highlights of Shetty’s career:
- Shetty was born in Mulki village in Karnataka
- Joined Punjab National Bank in 1981 as a clerk
- Worked in Mumbai for 36 years
- Took retirement from PNB in 2017
- Retired from the post of Deputy Manager
The most interesting part of Gokulnath’s carrer is that in 11 years of his time at PNB, he took a promotion only once; that is after serving as clerk for long, he straight came to the post of deputy manager and remained Deputy Manager till his retirement.
Shetty first met Nirav Modi and Mehul Choksy in 2005; when he was transferred to Mumbai’s Brady House branch; where diamond merchant Modi has his account.
Another strange fact is- Shetty remained in the same branch till his retirement and was never given a transfer which should have ideally happened in 2010.
As per CBI sources, Shetty met Nirav Modi for the first time in 2015, and the same year he purchased a huge 4-BHK house, which is today worth Rs 4 crore on Malad Link Road.
Shetty has another house in Borivali as well, which currently has been rented to someone.
As per CBI, Shetty has purchased several pieces of land in his ancestral village as well.