The Enforcement Directorate (ED) on Thursday attached valuables and jewellery worth Rs 255 crore in Hong Kong of diamond jeweller Nirav Modi in connection with the USD 2 billion alleged fraud in Panjab National Bank.

The agency stated that it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of these properties.

Worth mention here the said valuables were exported through 26 shipments by Dubai based companies of Nirav Modi to the Hong Kong. These based companies controlled by him after the registration of the case (PNB money laundering) in India. These valuables, diamonds and jewellery were lying in a logistics company vault in Hong Kong.

It is must be noted that the value of the attached assets is USD 34.97 million or about Rs 255 crore at present. With this latest order, the total attachment in this case against the absconding diamantaire is about Rs 4,744 crore.

ED has also filed a charge sheet against Nirav Modi alleging that he laundered and diverted over Rs 6,400 crore of bank funds out of the country to dummy companies that were under his and his families' control. Nirav Modi, his uncle Mehul Choksi and others are being investigated under various criminal laws after the fraud came to light this year following a complaint by the Punjab National Bank (PNB) that they are allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the supposed involvement of a few employees of the bank.