NEW DELHI: The Enforcement Directorate has received 108 consignments of diamonds, pearls and other valuables worth Rs 1,350 crore on Wednesday from Hong Kong which were seized in the Nirav Modi and Mehul Choksi money laundering case.
Both Nirav and Choksi are currently absconding and are located in foreign countries. Out of 108 consignments, 32 belonged to entities controlled by Nirav Modi and rest are controlled by Mehul Choksi.
The ED had earlier brought back 33 consignments of similar seizures valued at Rs 137 crore from Dubai and Hong Kong in this case. These valuables belonged to companies associated with fugitive diamond traders Nirav Modi and Mehul Choksi and were attached by the ED in Hong Kong.
Choksi and Nirav Modi are accused of swindling Rs 13,500 crore of Punjab National Bank by fraudulently issuing letters of credits. “These valuables include polished diamonds, pearls, pearl and silver jewel lery etc and were kept in a godown of a logistics company in Hong Kong. These consignments were brought back to Mumbai on Wednesday,” the ED said.
The agency claimed that these high-value consignments were sent by the accused to Hong Kong from Dubai in early 2018 to evade their seizure in Dubai. However, based on an intelligence input, ED officials approached the Hong Kong authorities in July-August 2018 and attached them.
“The ED officers were continuously engaged in discussion with various authorities in Hong Kong to bring these valuables back to India. Various modalities were finalised and after completing all the legal formalities, these consignments have now been brought back to India,” a senior officer said.