Enforcement Directorate, ED has provisionally attached properties worth over 24 crore rupees of accused Mehul Choksi in Punjab National Bank Fraud Case. The attachment includes three commercial properties in Dubai, valuables, one Mercedes and Fixed Deposit Account controlled by Choksi.
In a statement, the ED said, it had initiated investigation in money laundering case against Mehul Choksi and others in February last year under Prevention of Money Laundering Act on the basis of FIR registered by CBI.
Choksi and others have committed the offence of cheating against Punjab National Bank in connivance with certain bank officials by fraudulently getting the Letter Of Undertaking and Foreign Letters of Credit issued causing wrongful loss to the bank.
Out of total proceeds of crime worth over six thousand 97 crore rupees, ED has attached and seized properties worth two thousand 534 crore rupees. The agency said, Choksi is suspected to be in Antigua and Barbuda and extradition Request has been sent. A red corner notice has also been issued against Mehul Choksi on the request of ED. (AIR NEWS)