Nivar Modi’s Acche Din end? Swiss bank accounts worth ₹283 crore froze

NPnews24 Online: While Fugitive diamantaire Nirav Modi is set to appear via video link from prison, before Westminster Magistrates’ Court in London on Thursday, Four of the Swiss bank accounts of fugitive his and Sister Purvi Modi have been seized. Swiss authorities have seized these accounts on request of Enforcement Directorate. According to a press release by the Enforcement Directorate, authorities of Switzerland have frozen the bank accounts under the PMLA Act.

Four Swiss bank accounts of fugitive Nirav Modi and his sister Purvi Modi have been seized. Swiss authorities have seized these accounts on request of Enforcement Directorate (file pic) pic.twitter.com/mxz5TVDtJ0

— ANI (@ANI) June 27, 2019

The press release read, “The request was made on the ground that money in the bank accounts were deposited out of illegal siphoned off funds from Indian banks.”

(Purvi Modi 44 year old)

Swiss authorities have frozen a total of US $ 6 million present in Nirav Modi’s Swiss bank accounts along with the assets. Purvi is also one of the accused along with brother Nirav Modi in Rs 13,000 crore PNB scam.

The Interpol’s Loyn office in September last year, had Red Corner Notice against absconding diamond businessman Nirav Modi’s sister Purvi Modi in connection with the Punjab National Bank scam.

The 48-year-old, who has been lodged at Wandsworth prison in south-west London since his arrest in March in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case, will appear for the first time since his bail plea was rejected by the UK High Court earlier this month, this was his fourth attempt at bail.

Justice Ingrid Simler said in her judgment handed down at the Royal Courts of Justice in London, “there were substantial grounds to believe that Modi would fail to surrender as he does possess the means to abscond.”

(Wandsworth prison (top view), London)

Reiterating similar concerns as those previously raised by Westminster Magistrates’ Court during earlier bail attempts, Judge Simler ruled that after considering all the material carefully, she had found strong evidence to suggest there had been interference with witnesses and destruction of evidence in the case and concluded it can still occur.

“The applicant has access to considerable financial resources, supported by an increased (bail bond security) offer of 2 million pounds, the judge noted.