The Singapore High Court Tuesday ordered authorities to freeze the bank account of BVI firm Pavilion Point Corporation, owned by fugitive diamond jeweller Nirav Modi’s sister, Purvi, and brother-in-law Maiank Mehta. The order was issued in connection with a multi-crore Punjab National Bank scam in India, which is being probed by the Enforcement Directorate. According to the Indian central agency, there is at least $6.122 million in the account.
The Indian Express had reported in April that Modi moved around Rs 89 crore from Singapore to Switzerland a few months after India registered a criminal case against him. The ED believes the money kept in the account is from “proceeds of crime” of the Rs 13,500-crore fraud.
Enforcement Directorate says the Singapore High Court has ordered freezing of $ 6.122 mn in the bank account of BVI firm Pavilion Point Corporation, owned by Maiank Mehta and Purvi Modi (brother-in-law and sister of Nirav Modi) @IndianExpress
— Khushboo Narayan (@khushboo_n) July 2, 2019
The Singapore court’s order comes nearly a week after authorities in Switzerland froze four Swiss bank accounts of Modi and his sister Purvi.
Nirav Modi is currently lodged in London’s Wandsworth prison. The 48-year-old was arrested in March and has been behind bars since then. He has applied for bail four times, but all have been rejected.
Last Thursday, a UK court extended Modi’s remand till July 25.
The UK Crown Prosecution Service (CPS), representing the Indian government, has until July 11 to present an opening position statement laying out the prima facie case against Modi, with the next case management hearing set for July 29, when a timeline for extradition trial is expected to be laid out.