Enforcement Directorate (ED) officers searched the Mumbai offices of Nirav Modi after he was accused of cheating state-owned Punjab National Bank (PNB) of 2.8 billion rupees ($43.8 million). Footage broadcast on Indian television news channels showed officers entering one of Modi's jewellery showrooms in India's financial capital. Investigators searched four locations in Mumbai, including Modi's home, as well as stores in New Delhi and Surat, India's diamond trading hub, according to an ED directive being shared by journalists on WhatsApp. His high-end Nirav Modi brand has stores in several of the world's major cities. Cabinet minister Ravi Shankar Prasad said Nirav Modi was not part of the prime minister's delegation at the global gathering in Switzerland.

Source: Daily Mail February 15, 2018 08:07 UTC