Punjab National Bank (PNB) reported a fraud scam of around Rs 11,400 crore on February 14, where jewellery giant Nirav Modi allegedly acquired fraudulent letters from PNB and secured overseas credit from other Indian banks. Enforcement Directorate (ED) was quick to crack a whip and raided properties of Nirav Modi around the country on Thursday. A case has been registered against the diamond major under Prevention of Money Laundering Act (PMLA).
Actress Priyanka Chopra, who has been part of a few endorsement for the brand, has issued an official statement against Nirav Modi, stating that she has cut off all ties with him after he failed to clear her dues for the deals. “Priyanka Chopra has already cut off ties with Nirav Modi. She and her team had blamed him for non-payments for their endorsement deals,” said a statement from PeeCee’s spokesperson.
There are also reports that the actress, who is currently in the US shooting for the third season of her TV show Quantico 3, is planning on suing the diamond czar. The said endorsement was one where PC starred with Sidharth Malhotra.
Modi launched his jewellery business 2010 and by 2013 he had become a name to reckon with, with Hollywood and Bollywood celebrities wearing his designs and endorsing his brands. As of now, Modi has written to the bank stating that he is ready to pay up Rs 5000 crore. While he has said that she is in Switzerland right now, there is no confirmation about when and if he left the country.
Source: India Showbiz