New Delhi: Ami Modi, wife of fugitive diamantaire Nirav Modi, is likely to be named by the Enforcement Directorate (ED) in PNB money laundering case. Nirav was accused of defrauding Rs 6,400 crore from the Punjab National Bank last year.
Nirav Modi purchased two flats in US worth Rs 220 crore of the defrauded amount for his wife, the Times of India reported. The flats were bought under the name of Ithaca trust for which Ami Modi is the beneficiary.
One of the two flats was purchased by Central Park Real Estate, a shell company associated with the couple, in the name of Ithaca Trust. Nirav-controlled Firestar Group transferred $25 million to the shell company, the ED said.
The other $5 million were transferred into the account of shell companies associated with Nirav modi’s sister, Purvi.
Nirav’s sister later transferred then transferred $4.99 million into Ithaca Trust’s through layers of transaction involving shell firms abroad. The trust then used the money to purchase the second flat.
This is for the first time that Ami Modi’s name has come up in the investigations. Ami has so far not been named in chargesheet filed by the CBI or ED.
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