Punjab National Bank CEO Sunil Mehta met fraud office amid probe into $2 billion scam

Vastavam web: The chief executive of India’s Punjab National Bank (PNB) met officials of the serious fraud office on Wednesday, as authorities widened a probe into a $2 billion fraud that has been billed as the country’s biggest banking scam.Sunil Mehta’s appearance before the Serious Fraud Investigation Office (SFIO) follows its meeting with executives of at least two other banks on Tuesday.

Police have also so far arrested 19 people including eight of PNB’s current and former employees, along with executives from jeweller Nirav Modi and his uncle Mehul Choksi’s companies.Executives from private sector lenders ICICI Bank and Axis Bank met with the SFIO on Tuesday, according to sources with direct knowledge of the matter.ICICI Bank also told the stock exchange on Tuesday its executives continue to “engage actively and provide requisite inputs” to investigative authorities, without commenting on Tuesday’s meeting.

Indian authorities including the Central Bureau of Investigation and the Enforcement Directorate have conducted extensive searches and questioned people in connection with the PNB fraud.