PNB gives CBI a list of 150 fraudulent LoUs issued to Nirav Modi

pnb, punjab national bankBillionaire jewellery designer Nirav Modi and other members of his family, who fled the country last month, allegedly made fraudulent transactions of over Rs 114 billion through 150 letters of understanding issued by the Punjab National Bank, officials said. Nirav Modi, who holds an Indian passport, left India on January 1, while his brother Nishal, a Belgian citizen, also left the country on same day.

Source: Business Standard