MUMBAI/NEW DELHI: The ED today said it has arrested a “close” associate and the vice president of a firm of diamantaire Nirav Modi for allegedly aiding in the laundering of over Rs 5,900 crore in connection with the PNB bank scam case.
Shyam Sunder Wadhwa, the vice president of the Firestar group, was arrested last night under the Prevention of Money Laundering Act (PMLA) in Mumbai, the Enforcement Directorate said in a statement.
It said Wadhwa, a chartered accountant, was sent to seven days of ED custody by a special anti-money laundering court in Mumbai today.
He was described by the central probe agency as a “close confidant” of Modi.
“He is in close touch with Modi and also involved in money laundering at the behest of and in aid of Modi,” an official said.
This is the ED’s first arrest in the case. (AGENCIES)
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