ED nabs Mehul Choksi’s close associate in connection with PNB fraud case
The Enforcement Directorate (ED) on Monday nabbed Deepak Kulkarni, an associate of fugitive diamantaire Mehul Choksi in connection with his money-laundering probe in the USD 2-billion PNB fraud case.
The ED officials said, “The central probe agency arrested Deepak Kulkarni from the Kolkata airport after he landed from Hong Kong.” “Deepak Kulkarni was arrested under the Prevention of Money Laundering Act (PMLA) and was expected to be produced before a court on Tuesday,” the ED official said, adding that the ED would seek his transit remand to take him to Mumbai, where the case was registered.
It is to be noted that Deepak Kulkarni was the director of Choksi’s dummy firm in Hong Kong. A Look Out Circular was issued against him by ED and CBI earlier.
Mehul Choksi, his nephew and diamond jeweller Nirav Modi and others are being probed under various criminal laws after the fraud came to light this year, following a complaint from the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of some of its employees.
Both Mehul Choksi and Nirav Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI).