TODAY, the whole country is in a massive shock after reading about the scam at Punjab National Bank (PNB). In sheer magnitude, this is not an ordinary scam, but mother of all frauds that have been detected at Public Sector Enterprises and banks. Akela Bureau of Investigation – ABI (http://abinet.org/ ) had first written about the unfolding of this scam to Mumbai Police way back in 2013. Nirav Modi has not just cheated Punjab National Bank, there are atleast 14 other banks that have been victimized as well.
When ABI reporters read about the Punjab National Bank’s 11,400 Crore scam exposed on Wednesday (14th February 2018), they were left stunned. ABI had an inkling of this scam way back in 2013 and had unearthed some evidence. After a detailed investigation, ABI had informed the Rakesh Maria, then Commissioner of Police, Mumbai about the severity of this scam. At that time, Rakesh Maria had called up and entrusted the then Additional Commissioner of Police (Economic Offence Wing), Rajvarddhan Sinha to investigate this scam. ABI had then met Rajvarddhan Sinha and appraised and informed him about the scam. ABI reporters had met with Rajvarddhan Sinha twice during that time. On 3rd September 2013, ABI had provided a written version of the modus operandi of the scam. Sinha did not show much interest in the scam and did not take the whole matter on record. Since the scam had 14 banks and high profile persons like Nirav Modi and others, ABI, sceptical about the potential defamation suit, did not publish this news. At that time, ABI had in possession evidence of a scam worth Rs 5100 Crores.
ABI had received this information about Nirav Modi’s scam while investigating a separate fraud. At that time, local police station – Gamdevi Police was openly supporting Nirav Modi.
ABI has evidence about how Nirav Modi scammed various banks along with the amounts involved. Apart from Punjab National Bank, Modi has also defrauded Bank of India, Union Bank of India, United Bank of India, Oriental Bank of Commerce, UCO Bank, Allahabad Bank, Syndicate Bank, IDBI Bank, Corporation Bank, Vijaya Bank, Bank of Maharashtra and PNB Investment Services Private Ltd.
Nirav Modi has done the scam through companies Firestone Trading Pvt. Ltd, Firestar International Pvt. Ltd and Firestar Diamond International Pvt. Ltd and 30 other similar bogus companies. Their head office is at Trade Point Building, Second Floor, Kamala Mills Compound, Lower Parel. Mumbai.