Scammer Nirav Modi and Mehul Choksi’s Jewellery worth Rs1,350 crore returns to India.
The Enforcement Directorate(ED) has recovered 2,300 kg of polished diamonds and pearls worth Rs 1,350 crores from Hong Kong, these jewels belonged to Nirav Modi and Mehul Choksi.
ED has brough 108 consignments, out of which 32 beglong to overseas firms controlled by Nirav Modi.
These jewels were dispatched to Dubai while they were being investigated, and has been brought back by ED.
Nirav Modi and Mehul Choksi were accused in scam involving fake guarantees in the name of state-run PNB to secure overseas loans. They did a scam worth 11,000 crores.
Both fled India stealthly in 2018, before the CBI could began investigations.
Both the scam businessmen are being investigated by the ED under the Prevention of Money Laundering Act.
Nirav Modi was arrested last year in London, UK and is fighting extradition to India from jail.
In an attempt to recover some of what Nirav Modi owes banks, agencies sold his assets through auction, including a Rolls Royce car, paintings of famous artists MF Hussain and Amrita Shergill, designer handbags and other luxury items.