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PNB-Nirav Modi fraud case: Three more officers arrested

New Delhi, Feb 20: A week after the Nirav Modi fraud case came into light, three officers of the Mumbai Brady House branch of Punjab National Bank (PNB) have been arrested on Monday evening.

Three other officers were arrested before in connection with this case.

The three arrested are Chief Manager, in-charge of Forex department, Bechhu Tiwari; Scale II, manager, Forex department, Yashwant Joshi; and Scale I, officer, Export, Praful Sawant.

According to sources from the police and enforcement department, Tiwari was responsible for supervising the activities of Gokulnath Shetty and his manager. This was to ensure the entry of authorised swift messages only from the system. the police said that he was knowing all the activities of Gokulnath Shetty, a retired deputy manager of PNB's foreign exchange department.

Yashwant Joshi who was responsible for supervising Shetty also had full knowledge of the activities of Shetty but did not take any action. Joshi was responsible for ensuring daily reports of swift and Core Banking Solutions (CBS) entries.

Meanwhile, Praful Sawant was responsible for checking the SWIFT messages daily and report it to the higher authority.

The Enforcement Department has begun searches at their residences at Navi Mumbai, Andheri, Dombivili.

Simultaneously, searches are going on at Nirav Modi group offices at Peninsula Business Park, Lower Parel.

The search at PNB Brady House Fort Mumbai concluded earlier on Monday evening.

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