Interpol has issued a Red Corner Notice (RCN) against fugitive diamantaire Nirav Modi’s brother Nehal Deepak Modi, a Belgian national, in the Rs 13,500 crore Punjab National Bank fraud case.
According to Interpol, the RCN was issued against Nehal Modi on charges of the money laundering. The RCN has been issued against Nehal Modi on the request of the Enforcement Directorate (ED) which is probing the money laundering case against Nirav Modi, who is currently lodged in a London jail, his sister Purvi Modi and his uncle Mehul Choksi of the Geetanjali Group on charges of money laundering.
The ED had requested Interpol to issue an RCN against Nehal for his role in helping Nirav Modi launder bank funds. The ED probe has found that Nehal Modi intentionally assisted his brother in concealing the alleged laundering of money and destroying evidence.
The ED has registered the case of money laundering on the basis of the CBI FIR filed in February 2017. Nirav Modi and Choksi are being investigated by the ED and the Central Bureau of Investigation after PNB alleged that they cheated the bank of Rs 13,500 crore with the involvement of some bank employees.
Nirav Modi and Choksi also face charges under the Fugitive Economic Offenders Act. Both fled India before details of the fraud emerged in January, 2018.