Nirav Modi aide Vipul Ambani was aware of fraud LoUs: CBI

February 22, 2018 15:57

The Central Bureau of Investigation on Thursday said Head of Finance Department of Firestar Group of Companies of Nirav Modi, Vipul Ambani was fully aware of the fraudulent and illegal Letter of Undertakings in connection with the Punjab National Bank fraud case.

The LoUs were issued by retired Deputy Manager of Punjab National Bank Brady House branch in Mumbai, Gokulnath Setty, in conspiracy and guidance of celebrity jeweller and his other employees.

Ambani in his aforesaid capacity as Finance Head was also visiting and meeting not only the officials of Brady House PNB, but also the officials of PNB Circle, Zonal office at Mumbai and Head Office in New Delhi.

His knowledge of the fraudulent transactions is proved from the fact that on Wednesday, during the searches in this case at the office of Firestar Group of Companies at Peninsula Business Park at Mumbai's Lower Parel, the applications of fraudulent LoUs made to PNB by the three firms of Nirav Modi- Diamonds 'R" US, Solar Exports and Stellar Diamonds- were seized. -- ANI

Image: Vipul Ambani, President (finance) of Nirav Modis Firestar Diamond being taken to the special CBI court on Wednesday

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