Big success has been achieved in Punjab National Bank scam. According to the information, the Central Bureau of Investigation (CBI) has succeeded in taking India by arresting Subhash Parab, a close aide of Nirav Modi and former employee of the accused in the Punjab National Bank scam of Rs 13,500 crore, from the Egyptian capital Cairo. According to the information given by the officials, Subhash Parab left the country along with Nirav Modi and fled abroad after the scam came to light in 2018.
Parab was an employee in Nirav Modi’s company Firestar International Private Limited (FIPL). Earlier, 50-year-old Parab had claimed that he was kept in illegal confinement along with two Egyptian aides. In July 2018, Interpol had issued a red notice against Parab along with Modi on charges of criminal conspiracy, breach of trust, cheating and dishonestly acquiring assets.
Used to handle 6 companies in Hong Kong: According to the officials investigating the case, Parab was in-charge of 6 companies of Nirav Modi in Hong Kong. It looked into the transactions related to all those companies. At the same time, Letters of Undertakings (LOUs) of 8200 crores issued by Punjab National Bank were also received through this.