PNB scam: Another bank executive arrested

Mumbai (Maharashtra) [India], Mar. 01 (ANI): The Central Bureau of Investigation (CBI) on Thursday arrested another senior executive of the Punjab National Bank in connection with the billion dollar scam.

Internal Chief Auditor (retd) Bishnubrata Mishra was responsible for concurrent audit for the period 2011-2015 at Mumbai's Brady House branch.

Meanwhile, 13 more people were questioned by the CBI in addition to the questioning of those who are in CBI custody in the said case.

Earlier in the day, a special CBI court sent Internal Chief Auditor M.K. Sharma of PNB's Brady House Branch to the CBI custody till March 13.

Sharma was arrested on Wednesday in connection with the fraud case against Nirav Modi and Gitanjali group.

He was responsible for auditing the systems and practices of the PNB in Brady House Branch.

The PNB detected a billion dollar scam earlier this month, in which Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

The Enforcement Directorate (ED) provisionally attached immovable properties of Nirav Modi and companies controlled by him.

The scam, which allegedly started in 2011, was unearthed last month, after which the PNB officials reported it to the concerned agencies. (ANI)

This story has not been edited. It has been published as provided by ANI