MUMBAI/NEW DELHI: A Punjab National Bank (PNB) official received
diamond gold jewellery from Nirav Modi, prime accused in the Rs 12600-crore Letters of Understanding (LoUs) scam, cops told a Mumbai court.
The alleged fraud involves several bank officials, who were suspected of colluding with Nirav Modi and his uncle Mehul Choksi and issuing fraudulent letters of LoUs that helped the two accused jewellers raise loans from overseas branches of mostly Indian banks.
The Central Bureau of Investigation (CBI), which has arrested 14 people in the case, for the first time accused a PNB official of accepting jewellery as bribe from Nirav Modi.
The CBI told a judge hat Yashwant Joshi, a manager in the forex department of the PNB's Brady House branch, admitted to receiving two gold coins weighing 60 grams and a pair of gold and diamond earrings from Modi.
These coins and earrings have been recovered from Joshi's house when independent witnesses were around, the CBI said.
"This indicates that he (Joshi) was in collusion with the beneficiary accused persons to cheat the bank," CBI Inspector D Damodaran was reported as telling the court by Reuters. "He also obtained illegal gratification from the beneficiary party for continuing issuance of fraudulent LoUs."
Joshi, sent to judicial custody by the Mumbai court along with four other PNB officials and an associate of Modi, could not be contacted for comment, the news agency reported.
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