PNB Scam: ED seizes Rs 5100 crore worth diamonds of Nirav Modi from 17 locations

PNB Scam: ED seizes Rs 5100 crore worth diamonds of Nirav Modi from 17 locations 
Nirav Modi's home, showrooms and offices in Mumbai, Delhi and Surat were searched today after Punjab National Bank (PNB) complained of staggering fraud at the cost of the taxpayer to benefit the celebrity jeweller and others. Nirav Modi, his wife, brother Nishal and uncle Mehul Choksi allegedly worked with bank officials to illegally obtain Letters of Undertaking, which were cashed overseas from different banks. All four left the country in the first week of January.
In searches at 17 locations in the case today, the Enforcement Directorate said it had seized diamonds, jewellery and gold worth Rs. 5,100 crore.

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