Indian police have alleged Nirav Modi and others conspired with several employees of the Punjab National Bank (PNB) to fraudulently obtain advances for paying overseas suppliers. Photo: PTI
New Delhi: Indian jeweller Nirav Modi denies allegations that he was involved in a $1.8 billion loan fraud at Punjab National Bank (PNB), his lawyer told Reuters on Tuesday.
Indian federal police have alleged Modi and others conspired with several employees of the state-run bank to fraudulently obtain advances for paying overseas suppliers.
Vijay Aggarwal, a lawyer for Modi, said all transactions with PNB were documented and allegations made by the Central Bureau of Investigation were completely wrong. “Everything is documented,” Aggarwal told Reuters over telephone.
Asked about his legal strategy, he said: “Until there is no chargesheet, there is no strategy. When there is a chargesheet, there will be a strategy.” Reuters
