Over the course of Republic TV's investigation into the Nirav Modi-Mehul Choksi alleged Bank fraud which resulted in a deep throat revealing the Alpha Files, an account of how the current Letter of Undertaking (LoU) scam is just the tip of the iceberg, an insider source, Santosh Srivastav, former Gitanjali Gems President and MD, also shed light on a massive international diamond round-tripping operation allegedly run by Mehul Choksi and his nephew Nirav Modi.
Speaking to Republic TV's Prema Sridevi, the insider shared full details of how the same diamonds were allegedly moved across global capitals through shell firms to secure massive loans.
Here are the key highlights from Choksi’s alleged Diamond Round-Tripping scam, as claimed by his former Managing Director:
Earlier on Monday, Republic TV’s Alpha Files investigation revealed the alleged fake diamond scam that Choksi was said to be running. Get all the details on the fake diamond scam here.
Earlier, the Alpha Files had expanded the scale, size and scope of the Mehul Choksi-Nirav Modi scam and how despite a court order, the Police in Karnataka went slow on Mehul Choksi. On Monday, PNB's auditors went on record for the first time, revealing they'd flagged fraud diamond czars to the bank a number of years ago.