Authorities seize Choksi’s Thailand Property

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India’ Enforcement Directorate (ED) on Friday announced that it has attached a factory in Thailand valued at over Rs 13 crore owned by fugitive diamond jeweller Mehul Choksi accused in the Rs 14,000 crore PNB fraud case.

The ED said it has issued a provisional order for attachment, under the prevention of money laundering act (PMLA), of the factory premises owned by Abbeycrest Limited which is a group company of the Choksi-led Gitanjali group of companies.

Investigations under PMLA revealed that Abbeycrest (Thailand) Limited is the beneficiary of the LoUs (Letters of Undertaking) issued fraudulently and without authorisation from PNB to the tune of Rs 92.3 crore.

During the investigation, this overseas property has been identified and after gathering concrete evidence of ownership it has been attached, the ED said in a statement.

The value of the property is Rs 13.14 crore, it added. With the attachment of this property, the value of seizures in the PNB scam works out to around Rs 4,765 crore.

The ED is probing this case under the Prevention of Money Laundering Act (PMLA). Officials said ED investigators will soon move for issuing Letters Rogatories (judicial requests) for legal formalisation of the attachment of the asset in Thailand.

Choksi, his nephew and diamond jeweller Nirav Modi, and others are being probed under various criminal laws after the fraud came to light.

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3 COMMENTS

  1. Choksi is innocent. He’s a victim of a corrupt India government political vendetta. I’m glad Antigua is protecting him and giving him full due process. Maybe he will be eventually be extradited but I think Antigua has done the right thing to ensure all benefits of Antigua citizenship are being afforded to Choksi.

  2. Gaston thanks for protecting him he is innocent of this crime ..i will have to come for a passport also

  3. Innocent ????? He screwed thousands of traders with fake Diamonds.
    Even we have been cheated .
    How can he bee Innocent?
    By the way he still has companies running in Hongkong ,China,Japan ,Singapore and Europe,Italy and Germany with plenty of Goldjewellry which are still under his control or his in Belgium living Brother Chetan Choksi control.
    So i am woundering why nobody gets the hands on this companies to save the valuables.

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