India arrests 3 over huge bank fraud

Fraudulent transactions worth Rs 11,500 crore detected from PNB's Mumbai branch

These three were arrested by the Central Bureau of Investigation (CBI), which has also named 10 other directors and officials as accused in the scam.

Yesterday's arrests came after a money laundering case was registered against Modi and a few others, including members of his family, Shetty and Kharat.

The Congress chief alleged that businessman Nirav Modi has fled the country with Rs 20,000 crore of that public money.

"No documents or applications for issue of fraudulent LOUs issued by Shetty are available at PNB office", it said. Modi, his wife Ami, brother Nishal and uncle Mehul Choksi are partners in Diamonds R US, Solar Exports and Stellar Diamonds, which has shops in foreign locations such as Hong Kong, Dubai, and NY.

'Ice Prince' Hanyu reigns with second skating gold
Australia's Brendan Kerry put in a solid effort in his free skate, scoring 150.75 to temporarily occupy eighth place. It is the first time Japan win gold and silver in men's figure skating .

The source added that even senior Reserve Bank of India officials are also being looked at by the investigation bureau, since it seemed odd how the RBI did not catch these transactions despite conducting internal audit of bank branches every year.

Involvement of more PNB officials and outsiders can not be ruled out, the CBI said, adding that Shetty was not cooperating with the investigation.

As per the FIR lodged with the CBI, Shetty and Kharat had transmitted SWIFT instructions to the above-mentioned banks for raising buyers credit and for funding the Nostro accounts of PNB, without due procedure.

Bhat was Modi's authorised signatory.

Woods misses Genesis Open cut
He made five birdies despite hitting only seven greens in regulation as he recovered from being 2-over after three holes. He tees off late with Thomas and McIlroy as that elite threesome tries to play its way into position for the weekend.

Senior Congress leader Abhishek Manu Singhvi on Saturday said he will file a case against Defence Minister Nirmala Sitharaman.

Rahul Gandhi while speaking to media also asked PM Modi to issue a clarification in the PNB scam which Congress alleged was Rs 22,000 crore scam instead of Rs 11,300 crore.

The PNB fraud pertains to issuance of fake Letters of Undertaking (LoUs) to companies associated with billionaire jeweller Nirav Modi by errant PNB employees, which enabled these companies to raise buyers credit from global branches of other Indian lenders.

Defending one of the accused Kharat, his lawyer Kudrat Sheikh said that his client has no role in the scam.

NASCAR Predictions: Who will win Can-Am Duel 1? 2/15/18
How do you foresee NASCAR getting asses back in the seats and ratings up? There's plenty to talk about heading into Sunday's race. Truex and his team understand the tough road ahead, but believe that they can build upon last year's success .

Since March 2017, banks had actually extended loans and warranties worth Rs 17,600 crore to business connected to billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the tax department stated in a note seen by news agency Reuters.

Related News:

  • Russia is getting away with an attack on US troops

    Russia is getting away with an attack on US troops

    The forces reportedly advanced and fired at a US-held position in Syria, and the US's counter-attack obliterated the forces. The SDF is an alliance which includes the YPG Kurdish militia, and it is supported by the anti-IS coalition led by the US.
    Ethiopian Prime Minister Desalegn offers resignation

    Ethiopian Prime Minister Desalegn offers resignation

    In a short statement, Hailemariam said he was not quitting politics, but wanted to continue his work to reform Ethiopia. Desalegn took over in 2012 after the death of longtime Ethiopian leader Meles Zenawi, who had ruled since 1991.

    One of India's biggest banks accuses billionaire diamond dealer of fraud

    The jewelry designer is understood to be a citizen of the country but his brother Nishal and wife Ami are not Indian nationals. The ED and CBI have also requested to the External Affairs Ministry to revoke passports of Nirav Modi and Mehul Choksi.
  • Jared Kushner could lose security clearance under new White House rules

    Jared Kushner could lose security clearance under new White House rules

    The aides, including Rob Porter , Ivanka Trump and Jared Kushner , worked on interim clearance as they waited for full clearance. Kelly's "goal" is to be informed of such negative information about senior White House staff "within 48 hours of discovery".
    South Wales experienced a minor natural disaster  - but the Welsh were pretty underwhelmed

    South Wales experienced a minor natural disaster - but the Welsh were pretty underwhelmed

    Another said: "I thought the poltergeist was back". 'The last one I experienced was in the 1980s when I lived in Pembrokeshire'. This quake has been felt across a large area of Wales and England with the furthest reports so far from Birmingham and Devon.
    Florida governor on gun laws: 'Everything's on the table'

    Florida governor on gun laws: 'Everything's on the table'

    And a 32-year-old man was fatally shot outside a high school basketball game in Philadelphia on January 31. As a society we need to address our failing mental health system, and we need to address our gun problem.
  • 99% of PUBG's Banned Cheaters Are From China

    99% of PUBG's Banned Cheaters Are From China

    In the meantime, we figure PUBG is doing absolutely fine, even if a portion of its players have started to stray from the pack. As of this writing, the current player count is 529,997, with the peak in the past 24 hours being almost 1.7 million.
    Iran president slams USA  recognition of Jerusalem as capital

    Iran president slams USA recognition of Jerusalem as capital

    Hassan Rouhani's three-day visit comes a month after Israeli Prime Minister Benjamin Netanyahu visited India. In addition to this, Rouhani visited the tombs of Qutub Shahi rulers in the Golconda area in the city.
    'Black Panther' leaps to top of box office charts

    'Black Panther' leaps to top of box office charts

    The comic book icon makes yet another small appearance in the latest Marvel Studios movie, but this time he's a real player. As she told Variety , "It was something I feel he was playing with [trying] to set up, but it didn't happen".
  • Manchester United's Pogba ruled out of Huddersfield clash with illness

    Manchester United's Pogba ruled out of Huddersfield clash with illness

    France worldwide Pogba has been replaced in the squad by 19-year-old academy player Ethan Hamilton . I can understand why Pogba might feel irritated with the position Mourinho now has him playing in.
    Winter Olympics Medal Standings - Wednesday Morning

    Winter Olympics Medal Standings - Wednesday Morning

    And brother Alex on Instagram, Twitter and Facebook . "Some of the fences had collapsed and steel fences surrounding them also". She's also on Instagram , where you can see her snowboarding around the world and pics of her impossibly cute dog.
    Grief and anger as Florida prepares to bury victims of school massacre

    Grief and anger as Florida prepares to bury victims of school massacre

    Dispatch at the Broward County Sheriff's Office confirmed the school was on lockdown and police were on location. Marco Rubio tweeted updates of the event and said , "Today is that bad day you pray never comes".


Most liked

Kings' Bogdanovic wins MVP in 2018 NBA Rising Stars Game
Both were selected to Friday's Rising Stars game, but Bogdanovic thinks they have more to offer at All-Star Weekend. He was added to the Rising Stars roster Wednesday as an injury replacement for Los Angeles Lakers guard Lonzo Ball.

Oxfam's United Kingdom chief says critics are gunning for the charity
She claims he said: 'I find you very sexy, how can I help you?' "The hardest thing is that my family has rejected me", he said. Numerous charity celebrity ambassadors-including Minnie Driver and Desmond Tutu-have resigned as a result of the allegations.

Donato's outstanding effort leads U.S. to much-needed victory
Terry drew a boarding penalty later in the first period, but the US was unable to capitalize. The Olympic Athletes from Russian Federation face Slovenia later.

House Dem joins protest at NRA headquarters following Florida school shooting
Cruz has been charged with killing 17 people at Marjory Stoneman Douglas High School in Parkland, north of Miami , on Wednesday. Trump and Republican lawmakers have repeatedly pushed back against calls to tighten gun laws after previous mass shootings.

Four Counts Of Death Penalty For Zainab's Rape And Murder
In 2015, a gang ran a pedophilia ring in a village near Kasur, with over 200 children targeted by the ring. Zainab's father, Mohammed Amin Ansari was present when the court announced the decision.

Several inches of snow likely across region over the long weekend
Another wave of rain will spread into parts of the Ozarks by Saturday morning, mainly south of the interstate. Forecasters expect mostly cloudy skies throughout the mid-valley on Thursday , with highs in the upper 40s.

Sidharth Malhotra and Rakul Preet Singh return from Bengaluru promotions of Aiyaary
And, Neeraj became third time unlucky as this film too - after Baby and Naam Shabana - got banned in Pakistan. Bajpayee plays the role of the mentor and Malhotra has the role of playing his protege.

Brazil to use army in shock tactic to tame Rio violence
Brazil's federal government wants to send the military into one state to quell growing gang violence. The security situation in the state continues to be precarious.

Women Who Use Spray Cleaners May as Well Smoke Pack a Day
Asthma UK suggested "using solid or liquid products instead of sprays, avoid scented products and keep the area well ventilated". Scientists define one pack year as being the equivalent of 20 cigarettes smoked daily for one year.

Turkey jails 6 journalists over failed coup
However, the penal court rejected the request and made a decision to keep him in jail as his trial continued. Mr Yucel, who has both German and Turkish citizenship, denies the accusations.

Under Armour shares climb on stronger 4th-quarter sales
Adjusting for a one-time tax charge and restructuring costs, the company had breakeven EPS, matching the FactSet consensus. The revenue of the company slipped by 5% to $1.4 billion with its wholesale consumer sales down by 13%.

Nathan Chen still has a shot to medal despite disastrous performances
Zhou was distraught about finishing ninth at the global de France Grand Prix when falling on four quadruple jumps over two days. Most people outside of skating fans probably can't tell you where last year's world championships were held or who won there.

Powerful 7.5-Magnitude Earthquake Hits Mexico
Standing in the middle of the street, her eyes glued to her fifth-floor apartment, Graciela Escalante, 72, could hardly speak. MEXICANS fled into the streets in a wave of panic after a powerful natural disaster struck the country.

Hansdotter takes her first gold in women's slalom
Speaking to journalists after her first run, she alluded to the compressed schedule - and the disruption in her nightly routine. Whenever she competes next, she knows she'll have to move forward and put Friday behind her, no matter how hard that may be.

Kiernan Shipka's Sabrina gets teacher, cousin in reboot
Michelle Gomez , whom you probably remember as Missy from Doctor Who , will be playing Mary Wardell, Sabrina's favorite teacher. Chance is relatively unknown, appearing in a handful of titles including CBBC's Hetty Feather and ITV's Midsomer Murders .