PNB scam: Additional Rs 1,300 cr fraud revealed

Mumbai Feb 27 (IANS) The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1 300 crore unauthorised transactions taking the estimated quantum to Rs 12 600 crore in the scam related to diamond trader Nirav Modi and owner of Gitanjali Gems Mehul Choksi.

In a 11.22 p.m. late night filing with the stock exchanges on Monday the bank said: "In continuation to our filing with stock exchanges on February 14 2018 we have to inform that quantum of reported unauthorised transactions can increase by $204.25 million."

The Central Bureau of Investigation on Monday said it questioned PNB Executive Director K.V. Brahmaji Rao two General Managers and a retired official in connection with its probe into the multi-crore fraud.

The Income Tax Department also said it had attached 66 more bank accounts related to accused Choksi.

--IANS
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