Mehul Choksi and his nephew Nirav Modi are at the centre of the Rs11,400 crore PNB fraud. Photo: Priyanka Parashar/MintMumbai: Mehul Choksi, one of two businessmen allegedly involved in the Rs11,400 crore PNB fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. “With recent false allegations levelled against me of defrauding the PNB Bank and media frenzy, the situation has gone grave, which is turning graver by the day,” Choksi wrote in the letter sent to employees on Friday. The PNB fraud, which came to light earlier this month, has shaken confidence in state-run lenders and turned the spotlight again on India’s deep-seated corruption problem. Choksi’s firm, Gitanjali Gems, has also denied involvement in the PNB fraud.

Source: Mint February 25, 2018 05:48 UTC