PNB detects fraud of Rs 11,500 crore; CBI gets 2 complaints against Nirav Modi

PNB detects fraud of Rs 11,500 crore; CBI gets 2 complaints against Nirav Modi

The CBI received the complaints about the transactions detected by the public sector bank on Tuesday

By: || Updated: 14 Feb 2018 11:01 PM

Image: PTI

New Delhi: The CBI has received two complaints from PNB against billionaire jewellery designer Nirav Modi and a jewellery company about fraudulent transactions worth Rs 10,000 crore, official sources said on Wednesday.







The agency received the complaints about the transactions detected by the public sector bank late last night, sources said. The complaints deal with fraudulent transactions reported from the bank's branches and the amount involved is over Rs 10,000 crore, the sources said.

The allegations are being looked into and future course of action will be decided soon, they said. The agency has refused to share any further details as it may hamper the investigation. Agency sources said Modi is already facing a CBI probe on a complaint from the Punjab National Bank.

Meanwhile, the bank had also intimated stock exchange BSE about the "fraudulent and unauthorized" transactions worth over USD 1771.69 million in one of its branches in Mumbai.

In its filing at the BSE, the PNB said the bank had detected some fraudulent and unauthorised transactions in a Mumbai branch.

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