PNB scam: CBI files charge sheet against Mehul Choksi, Allahabad Bank CEO and 13 others in $2 bn scam case
New Delhi: Gitanjali group owner Mehul Choksi and Allahabad Bank CEO Usha Ananthasubramanian along with 13 others were on Wednesday charged by the Central Bureau of Investigation (CBI) for alleged cheating and corruption in the issuance of fraudulent letters of undertakings worth Rs 7080.86 crore from Punjab National Bank in the country's biggest banking scam case.
In addition, three companies of Choksi -- Gitanjali Gems Ltd, Gili India Ltd and Nakshatra Brands Ltd -- have also been made accused in the charge sheet filed before a special CBI court in Mumbai, officials said.
The charge sheet pertains to a second FIR related to alleged crimes of Choksi and his companies in the series of three such cases registered by the CBI in the over USD 2 billion scam case in which jewellers nephew Nirav Modi is also an accused, they said.
The agency had on 14 May filed a charge sheet in a related case against diamond merchant Modi pertaining to alleged swindling of Rs 6,498.20 crore using fraudulent LoUs issued from PNB Brady House branch in Mumbai.
The cumulative figure of the funds swindled by Choksi and Modi now stands at Rs 13579.06 crore from PNB by using fraudulent LoUs, according to the charge sheets, the officials said.
An LoU is a guarantee given by an issuing bank to Indian banks having branches abroad to grant short-term credit to the applicant.
Choksi and his companies alleged...