Non-bailable warrants have been issued for the two central figures in an alleged $2 billion scam at state-run Punjab National Bank (PNB). According to Reuters, a special court of India’s Central Bureau of Investigation (CBI) approved an application to issue non-bailable warrants against jewelers Nirav...
The scandal surrounding India’s state-run Punjab National Bank (PNB) is getting bigger — in fact, a source says it could hit the $2 billion mark. According to a source involved in the investigation and court documents reviewed by Reuters, authorities are still trying to recover...
Investors worldwide got quite a scare from India’s Punjab National Bank (PNB) with the announced discovery of $1.8 billion in fraudulent activity at one of its branches, according to Reuters reports. The bank said in a statement that “a few select account holders” appear to have...
March 20, 2019
Nirav Modi, an Indian jeweler accused of bank fraud to the tune of $2 billion, was denied bail in London, reported Bloomberg. According to the report, citing a London judge, bail was denied because there were “substantial risks” that Modi could try to flee the country as India seeks extradition. Modi was arrested by the U.K. […]
April 09, 2018
Non-bailable warrants have been issued for the two central figures in an alleged $2 billion scam at state-run Punjab National Bank (PNB). According to Reuters, a special court of India’s...
March 07, 2018
The scandal surrounding India’s state-run Punjab National Bank (PNB) is getting bigger — in fact, a source says it could hit the $2 billion mark. According to a source involved...
February 14, 2018
Investors worldwide got quite a scare from India’s Punjab National Bank (PNB) with the announced discovery of $1.8 billion in fraudulent activity at one of its branches, according to Reuters...
