Nirav Modi is the prime accused in the $2 billion Punjab National Bank fraud case

Enforcement Directorate (ED) has seized gems, jewellery, bank deposits worth more than Rs 253 crore owned by Nirav Modi under the Money Laundering Act.

On Friday, the ED was told that it has attached assets worth Rs 253.62 crore, including gems, jewelery and bank deposits of companies linked to fugitive diamond trader Nirav Modi.

The central agency said in the statement that all these movable properties are in Hong Kong and they were seized under the investigation of the Prevention of Money Laundering Act, 2002 (PMLA). 

According to the statement, some assets of the Nirav Modi Group in Hong Kong have been identified as gems and jewelery kept in private 'vaults'.

Along with this, the amount kept in bank accounts there has also been known.

They have been temporarily confiscated under the provisions of the Prevention of Money Laundering Act (PMLA).

Please tell that 50-year-old Nirav Modi is currently imprisoned in a UK jail.

He is the main accused in the $2 billion Punjab National Bank fraud case.

The Central Bureau of Investigation (CBI) is investigating the case.

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