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SFIO sleuths grill PNB CEO on scam

Author: IANS/Thursday, March 8, 2018/Categories: Banking & Financial Services

SFIO sleuths grill PNB CEO on scam

Mumbai, March 7 - Continuing the probe into the Punjab National Bank fraud, sleuths of the Serious Frauds Investigation Office (SFIO) questioned the bank's Managing Director and CEO Sunil Mehta on March 7.

Mehta was grilled by the investigators for around five hours.

He is the third high-ranking banker to have been called by the SFIO for the probe into the Rs 12,600-crore PNB fraud involving absconding diamantaires Nirav Mehta and his uncle-cum-business associate Mehul Choksi.

On Tuesday, top executives of two private banks, the ICICI Bank and Axis Bank, had met the SFIO teams in this connection.

The SFIO's probe is part of the continuing investigations launched by multiple agencies including the Central Bureau of Investigation and the Enforcement Directorate, since the PNB suo moto admitted to the multi-thousand-crore-rupee fraud on February 14.

So far, these agencies have arrested a total of 19 persons in connection with the scam.

They include present and former employees of the PNB, besides staffers and top executives of the companies owned by Modi and Choksi.

However, the main alleged perpetrators of the fraud have already fled the country, their passports have been cancelled and they have failed to honour summons to appear and join the investigations.

According to some reports, the SFIO may question top executives of more than 30 other banks in connection with the fraud.

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Kavita Giridhar Mallya

IANS

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