CBI conducts search ops at retired PNB official’s house
The retired bank official Gokulnath Shetty, who helped diamond czar Nirav Modi and his partners in swindling crores of rupees during his seven-year stint, is absconding
A team of Central Bureau of Investigation (CBI) reached residence of former deputy manager of Punjab National Bank (PNB) Gokulnath Shetty on Friday in Malad (west) where they remained for nearly four hours.
Shetty, who retired as deputy manager at Mumbai’s Brady House on May 31, 2017, is accused of helping diamond czar Nirav Modi, his brother Nishal Modi and their partner Mehul Choksi in swindling money which incurred loss of Rs 280.70 crore to the banks.
PNB alleges that Modi and Choksi worked with Shetty, who was posted at a PNB branch in Mumbai from where the fraud originated. Shetty was a deputy general manager in the foreign-exchange department looking after import payments.
A criminal complaint filed by the bank has alleged that Shetty fraudulently issued letters of undertaking, or a payment guarantee for imports, to various firms owned by Nirav Modi and Mehul Choksi over seven years.
Shetty has been absconding after his predecessor registered FIR against him on January 31. On Friday morning the CBI team
reached his house in Kastur Park of Borivali (west) but it was locked. After talking to Shetty’s neighbours, the CBI team reached his house in upscale area of Malad (west) at 11:30 am. But Shetty’s wife refused to open the door as the CBI team was in plain clothes. However, she opened the door after the intervention of local police.
Sources said the CBI have collected some vital documents, bank accounts details, etc from Shetty’s Malad house during four hour search operation. The investigating agency has quizzed Shetty’s wife and children to know his whereabouts but the CBI has not got any possible lead as Shetty remains untraced, added the source.
Shetty bought Malad’s 2 BHK flat in Rustomjee Ozone tower nearly 13 years ago for Rs 45 lakh in the name of his wife. The source said the investigating agency is probing the source of fund to buy Malad flat where Shetty moved nearly six years ago with his wife and two sons from Borivali (west). The CBI team again visited Shetty’s house in the evening and left the place after quizzing his family again.
Shetty was posted as a deputy general manager in the foreign-exchange department looking after import payments at PNB branch in Mumbai from where the fraud originated.
Choksi is the MD of Gitanjali Gems, while Nirav Modi owns the Haut Diamantaire range of jewellery and precious stones. Modi and Choksi used this guarantee to raise funds overseas, and then again connived with Shetty to rollover these facilities on maturity.
A criminal complaint filed by the bank has alleged that Shetty fraudulently issued letters of undertaking, or a payment guarantee for imports, to various firms owned by Nirav Modi and Mehul Choksi over seven years