PNB scam: Arrested bank officials refusing to cooperate, say CBI sources
Arrested PNB officials, PNB scam, India,
CBI sources said that for every Letter of Undertaking (LoU), a commission was fixed
The Central Bureau of Investigation (CBI) sources Sunday said the
Punjab National Bank officials (PNB) arrested are not co-operating in the investigation of the fraudulent transaction scam of Rs 11,400 crore.
However, they also revealed that for every Letter of Undertaking (LoU), a commission was fixed depending on the amount to be sanctioned as loan.
Commission in exchange of issuing the aforementioned document was distributed between all employees of the bank involved in it.
The investigative agency also said that the involvement and connivance of more staff members and outsiders, including accused jewellery designer Nirav Modi and relative Mehul Choksi is being probed.
The PNB detected Rs 11,400 crore scam in which jeweller Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.
On Friday, three companies of Choksi were named in the CBI's FIR, namely Gitanjali Gems, Gili India and Nakshatra Brand Ltd.
Till now, the Enforcement Directorate (ED) has conducted search operations at over 21 locations across India in connection with the case and seized diamonds, gold, precious stones, metals and jewellery worth crores.