Billionaire jeweller Nirav Modi is at the centre of the $2 billion PNB fraud. Photo: Aniruddha Chowdhury/MintNew Delhi/Mumbai: Jeweller Nirav Modi has refused to join India’s investigation into a $2 billion PNB fraud engineered by his companies, the Central Bureau of Investigation (CBI) said, in a pattern now familiar with India’s fugitive tycoons. The CBI on Wednesday said Modi, now at an undisclosed foreign location, declined to follow the agency’s directive to join the PNB fraud investigation, citing business commitments. On Wednesday evening, CBI arrested an internal chief auditor of PNB as part of the ongoing investigation against Nirav Modi group and the Gitanjali group. The Income Tax department on Wednesday also issued lookout circulars against Nirav Modi and Mehul Choksi, while also attaching four more properties belonging to Modi.

Source: Mint February 28, 2018 12:39 UTC