Mumbai : The prime accused of PNB fraud case, fugitive diamond trader Nirv Modi, told a court that he could not return to India due to security concerns and also because his case has been politicized.
Modi’s lawyer filed a lawsuit against the petition of the Enforcement Directorate (ED), in which for the cases filed under the Money Laundering Act (PMLA), to declare diamond merchant a fugitive under the Fiscal Economic Offenses Act (FEOA) before the special court.
Modi feared for his safety given the violent threats made against him “as illustrated by the burning of his effigies”, the reply said.
The statements made by politicians of all parties reveal that he “preferred his crime issue” and his case was being used for political purposes.
Before the case would registered against him, he left the country the ED tried to “falsely implicate” him for offences “backed by shallow claims”, Modi’s said.
According to the Central Bureau of Investigation (CBI), Modi and his uncle Mehul Choksi cheated Letter of Undertaking (LoUs) to get credit in foreign countries and betrayed Punjab National Bank (PNB) by Rs 14,000 crore.
Modi is an Indian businessman and is wanted by the Interpol for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and breach of contract since August 2018.
Modi is being investigated in a $2 billion fraud case of Punjab National Bank (PNB) and is also being sued in the State of California for US$4.2 million for defrauding Los Angeles entrepreneur Paul Alfonso, over two custom diamond engagement rings that turned out to be lab diamonds.
(With PTI Inputs)