The Enforcement Directorate (ED) has attached gems and jewellery and bank deposits worth £2.54 million in Hong Kong belonging to Nirav Modi in a money laundering case against the fugitive diamond trader, whose extradition is pending in UK courts, taking the total attachment against Modi and his associates to more than £265 million so far.
“The proceeds of crime in the form of gems and jewelleries and bank balances amounting to $31 million and HKD 5.75 million (equivalent to £2.5 million) have been attached in the case of Nirav Modi group of companies in Hong Kong,” the agency said. Nirav Modi is wanted for frauds in the Punjab National Bank case worth over £650 million. In the past few years, the ED had attached assets of him and his associates worth over £240 million in India and abroad.
