Bhubaneswar: The Enforcement Directorate (ED) officials today raided three major jewellery stores linked to billionaire diamond merchant Nirav Modi in Cuttack and Bhubaneswar.
Sources said while searchers were being carried out in two jewellery stores in Bhubaneswar, one jewellery store was being raided in Cuttack.
Earlier this year, the CBI registered a case against officials of the PNB as well as Modi and his relatives, who are partners of two diamond firms in Mumbai, for allegedly committing Rs 280 crore fraud in 2017.
Subsequently, the ED initiated inquiries and booked Modi and many others under the Prevention of Money Laundering Act (PMLA). The PNB had lodged a complaint with the ED.
Notably, the billionaire diamond merchant left the country on January 1, 2018. The CBI issued look-out circulars against all the accused on January 31.
On the other hand, Odisha Government will review the Gitanjali Group’s Rs 6.36 billion proposed gem, jewellery, lifestyle and luxury goods park at Ramdaspur near Cuttack following its involvement in the PNB came to fore.