Mehul Choksi knew about ED probe in 2017, says CBI chargesheet; 4 others named in PNB scam

CBI, in its supplementary chargesheet in the PNB scam, has charged Mehul Choksi with legal conspiracy, destruction of proof and dishonest. Choksi is presently in the custody of Dominican police on costs of unlawful, entry into the Caribbean nation.

The Central Bureau of Investigation (CBI) has additionally revealed that Choksi had advised his associates that they may get into bother with the Enforcement Directorate (ED). This was two months earlier than he fled India in January 2018. At the time, no case had been lodged in opposition to him.

Mehul Choksi conspired with employees of the Punjab National Bank (PNB) for the issuance of 165 LoUs (Letters of Undertaking) and never 142 LoUs as alleged by the financial institution in its grievance, says the chargesheet.

None of those LoUs have been ever entered into the financial institution’s core system since financial institution staff have been bribed by Mehul Choksi and his associates, says the CBI chargesheet.

In addition, the CBI additionally discovered that 347 FLCs (international letters of credit score) have been issued to abroad banks on behalf of Mehul Choksi’s corporations between 2014 and 2016. The chargesheet says 88 of those FLCs have been issued in 2014, adopted by one other 143 in 2015 and 116 in 2016.

The FLCs have been issued in favour of Choksi’s corporations Gili lndia Ltd, Gitanjali Exports Corporation Ltd, Nakshatra Brands Ltd and Asmi Jewellery India Ltd.

Two PNB officers named in chargesheet

The supplementary chargesheet additionally recognized 4 people, together with two public servants, as co-accused in the case. The authorities officers have been recognized as Sagar Sawant and Sanjay Prasad, each posted on the PNB’s Brady Road department in Mumbai. While Sagar was an official, Prasad was an assistant basic supervisor.

Meanwhile, the opposite two people named in the chargesheet are Dhanesh Seth and Sunil Verma. Seth is director of Gili India Ltd and Nakshatra Brands Ltd, whereas Verma is an worker of the Gili Group.

With these additions, a complete of twenty-two people have now been charged by the CBI in the Punjab National Bank scam. Some of these accused in the PNB scam embrace PNB official Gokulnath Raghu Shetty, former Allahabad Bank MD & CEO Usha Ananthasubramanian and Choksi’s associates Aniyath Shivraman Nair, Nitin Prem Shahi, Kapil Khandelwal and Vipul Chunilal Chitalia.

The accused have been booked on costs of legal conspiracy, dishonest , legal breach of belief, inflicting disappearance of proof and falsification of accounts, public servant taking unlawful gratification and legal misconduct by public servants, amongst others.

Choksi knew of impending legal proceedings: CBI

The CBI additionally talked about in its supplementary chargesheet that Choksi visited Hong Kong in December 2017 to satisfy ‘dummy administrators’ of Hong Kong-based suppliers. He additionally advised these people that he was having issues with the authorities again in India and that they may very well be questioned.

Choksi advised the ‘dummy’ companions, administrators and authorised signatories of Hong Kong-based 4C’s Diamond Distributors, Shanyao Gong Si Ltd and Crown Aim Ltd to use for visas to Thailand since their operations in Hong Kong would quickly be closed.

They have been requested to supply related paperwork to Vipul Chunilal Chitalia for processing their work allow in order to have the ability to work with Abbeycrest Ltd, a agency managed by Mehul Choksi in Bangkok.

Mehul Choksi being wheeled into the Magistrate’s court docket in Roseau, Dominica on June 2, 2021 (Photo Credits: PTI)

An official aware of the probe mentioned, “ln mid December 2017, Choksi telephoned Kalpen Doshi, director and authorized signatory of Crown Aim Ltd, Hong Kong and directed that all dummy partners, directors, authorised signatories should provide the documents to Vipul Chunilal Chitalia.”

“This shows that Mehul Choksi had prior knowledge of the impending criminal proceedings. Hence, Mehul Chinubbhai Choksi fled the country on January 4, 2018 with dishonest intent, to evade the process of law,” says the CBI chargesheet.

The central probe company added that Mehul Choksi had a telephonic dialog with Dinesh Bhardwaj in February 2018. Bhardwaj was then department head of PNB’s Brady Road department.

During this dialog, Choksi promised to settle the reimbursement of the excellent fraudulent LoUs and payments discounted in opposition to fraudulent FLCs (international letters of credit score).

According to the chargesheet, a complete of 311 payments have been discounted in opposition to unauthorised amendments made in 58 FLCs by accused financial institution officers.

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